Why do people flock to Bitcoin?
Bitcoin has become a lot of things that went into our lives. It has begun to change the world in less than 10 years. Those who resist or do not accept this change continue to make negative disclosures about Bitcoin and crypto assets every day. In the days when we are new to them, Global investment management company BlackRock Inc. It was sung by CEO Larry Fink.
At the beginning of October 2017, Fink claimed that the significant increase in the popularity of Bitcoin and other digital currencies (such as Zcash, Monero) reflected the extent of the world’s money laundering activities. He believes that digital assets such as Bitcoin are used to tax evasion, black money laundering and online gaming.
Obviously, how is it true for people who do not know the details of how to use cash money, even if evidence is needed to say that black poverty is related to crypto assets if it can not be observed what is done with banking activities?
But why do people trust Bitcoin despite all these speculations, negative media reports and extreme market turbulence? Why do people flock to Bitcoin for the numerous benefits and investment opportunities they offer?
Bitcoin and other virtual currencies now have a total market value of around $ 150 billion (Coinmarketcap.com). Bitcoin constitutes about 50 percent of this total value.
In fact, the success of Bitcoin has a few simple reasons that everyone can understand. Bitcoin was considered as a “secret / anonymous” currency at the beginning. As time went on, Bitcoin became part of the price fluctuation flow, and it began to be accepted by people. He started to get out of the black market and accept the demands of normal people, and more and more online shops began to accept Bitcoin. In fact, the demand for Bitcoin caravans has grown exponentially with the addition of traditional stores, investment companies, banks and businesses.
Along with the increasing demand of Bitcoin, prices naturally began to rise and stabilize. The average investor clearly saw that the price of Bitcoin was not really “stable” and simply entered into a financial gain by buying and selling Bitcoin. For this reason, the idea that the price is very unstable has been a means of making a profit from the dreadful situation for the investor. So profitability has made Bitcoin even more recognizable, and today it has increased. All this spiral caused the endurance of interest in Bitcoin.
For us, Bitcoin has gone a long way since our day. If you are talking to the Bitcoin today when you sit in the friendly councils today, if crypto money is being talked about on trendy, underground, on the street, on television, in newspapers, there is a lot of way to go. Good thing you have Bitcoin !!