Why Bitcoin Price is Going up? Why Is Bitcoin's Price Rising?

Number one reason that bitcoin price is going up in my opinion is because people are losing faith in this. You see people are losing faith in paper currency and i will explain why is that last year in April 2020 when pandemic hit a government decided to print one trillion dollar. I got super worried the reason for the worry was let's say fifty thousand dollar can buy you x amount of things after government is done printing the money to buy same x amount of things. Now i have to spend more money like 60,000 and the reason is when government prints money the purchasing power of your current cash goes down. so then how do you tackle with the situation you know ray value of famous investor has been saying this repetitively that cash is trash yes cash is trash cashes stress in the world of fiat currency where government can print money out of thin air in past the money printing was backed by gold but the gold standard was removed.

Why Bitcoin Price is Going up? Why Is Bitcoin's Price Rising?


Why Does the Price of Bitcoin Keep Going Up?

Nowadays government have no control they can just print money as per their will out of thin air so to tackle the situation you can convert this cash into some tangible investment such as real estate or stock market. So when you buy a real estate you have a home it's a tangible investment it is not like paper currency which is you know government just keep on printing and the purchasing power goes down but stock market and real estate also has its own set of disadvantages so sometimes people are like I want a pure store of value I don't want to go into stock market real estate so then other investment is gold you put money in gold gold is a precious metal it's not like you can print it out of thin air and it's a precious metal it is trusted so people buy gold but the problem with gold is that you can't carry it around for your normal day-to-day trade.

Let's say I go out I want to buy a cup of coffee I'm not going to carry a gold coin and ask that coffee vendor that okay cut little you know make a cut in this coin and take take your amount so nowadays bitcoin is a digital gold bitcoin is like gold in a sense that the supply is limited you know the maximum supply that bit can have bitcoin have is 21 million after that you can't make more bitcoin or you can't produce more bitcoins so that way the the supply is limited and the transactions are very easy so I can have my mobile app I can go to coffee store and just you know ask the vendor to take the the money take the bitcoin so making transactions is very very easy it is super fast secure and how does that work well

What is bitcoin in a very simple language so if you read that you will get an idea on how bitcoin works underneath you know the technology but overall bitcoin is like digital gold and that is the reason many people are are putting faith in this digital currency because guess what like would you like it if someone is taking money or cash out of your account without your permission I don't think anyone will like it and that's what is exactly happening in today's world where government just keeps on printing money and the purchasing power of your cash goes down so many people are moving their cash or their money or wealth into crypto currencies like bitcoin. But hopefully at some point the value will stabilize and people can
use bitcoin as a currency. 

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