What are the factors driving the recent bitcoin rally?

1 answers

• Shiva KumaraDec 10, 2020 · 5 years ago
  As an expert in the cryptocurrency industry, I can say that the recent bitcoin rally is primarily driven by a combination of factors. Firstly, the increasing mainstream adoption of bitcoin as a payment method and investment asset has significantly boosted its demand and price. Major companies like PayPal and Square now allow their users to buy, sell, and hold bitcoin, making it more accessible to the general public. Secondly, the current low-interest-rate environment and unprecedented fiscal stimulus measures have led investors to seek higher returns in alternative assets, such as bitcoin. The limited supply and decentralized nature of bitcoin make it an attractive investment option. Lastly, the growing interest from institutional investors, including hedge funds and asset managers, has added further legitimacy to bitcoin as an asset class and contributed to its recent rally.
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