Hey guys , just a question you know ah,!

So,Uh i know cryptocurrencies and stuff, but im just asking myself ,we live with covid-19 for months now…
but how can the value of btc be on its higest level??inthis terrible time of life, maybe its a stupid question but haha just keeps me thinking…haha

peaceeee

Not only cryptocurrencies but also some stocks have hit new records. You need to understand that the finacial markets (stock market or crypto market) dont get affected by the situation people are in. If you think this pandemic has made everyone’s life miserable, you are damn wrong. Covid has caused problem to only the poor and the middle class who dont have surplus money. People who had surplus money made a fortune this year.

Coming to the question, bitcoin is rising because the investors felt that cryptocurrency is a good place to park their surplus money as the stocks had been a little unpredictable and traditional currencies (dollars, euros etc) are tied to a country’s economy and all the countries are affected by covid. And seeing this rise more and more people started investing in bitcoin and a few other crypto. This is what i think is the reason. Im no expert, im just a guy intrested in the financial markets.
I think this is a bubble and its gonna blast just like in 2012. Investors will have to take their money out and i think its gonna drop. If not at a previous magnitude, i think there will be a significant drop in bitcoin. But again as i said, im no expert. Its just my theory.

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