Bitcoin "Digital Gold"........Why should you invest in Bitcoin today?

 


What Is "BITCOIN"?

Bitcoin is a virtual currency, this means that its transactions are exclusively on the Internet and do not have a physical presence. 

The financial transactions of Bitcoin are exclusively through piggy banks (money wallets) and dark rooms on the Internet. It is not known who owns these piggy banks. It is also placed in a fake balance, with the ability to practice buying and selling transactions through the Internet only.

As for currency transactions, they are by selling "codes" for those who deal in them or who own them. And if someone wants to sell or buy a certain thing, he is given a "code" of a number of currencies that are his property.

Bitcoin is not linked to a specific geographical location for dealing with it, and it operates outside the controls of governments and banks. 


What Are The Merits of "BITCOIN"?

According to economists, Bitcoin has several merits, including:

First: Providing financial services to a group of people who do not have access to banking services in most countries, except Europe and the United States of America. 

Second: Anti-fraud; As it is considered safe for customers, in terms of the inability to steal personal data, and financial transactions cannot be canceled by the customer, which is considered safe for merchants.

Third: The virtual currency is the first payment solution in the world, which positively affects e-commerce: transfer fees and financial transactions are not applied in this scenario.


Why Have We Witnessed A Noticeable Rise In "BITCOIN" Recently?

According to the CoinMarketCap platform, the price of Bitcoin rose during the last four weeks by about $ 23.1 thousand, by 73% until the end of trading on Monday, February 22nd, to reach $ 54.8 thousand.

The recent rise in Bitcoin's digital currency is due to psychological factors resulting from rumors and the attempt by some aim to achieve rapid enrichment. In addition, the weakness of Dollar, which was evident last week, has contributed to the rise of Bitcoin somewhat. 

Nevertheless, the most effective factors, that contribute to the pace of the rise in Bitcoin, were driven more by Tweets and Hashtags on social media recently. For example, about 4 weeks ago, American billionaire Elon Musk, founder of Tesla Electric Cars and one of the richest people in the world, added the Bitcoin hashtag to his Twitter Account, a move that helped raise the price of the cryptocurrency for a short period by up to 20%.


Is BITCOIN Expected To Continue To Rise, Thus Increasing Investment?

Yes, 

Many economic experts confirmed that the price of Bitcoin continues to rise, as a result of investors turning away from the stock and bond markets that suffered violent losses during the last period due to the conditions imposed by the Corona pandemic. 

After the Corona outbreak, some Western investors  see that dealing in digital currency is better than possessing traditional cash, which will push the digital currency market to compete strongly, with asset markets and safe havens that investors resort to in times of crisis.

So at the moment,it may seem that it is more appropriate for many to start investing in digital currencies, including Bitcoin.

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