Bitcoin has been on a wild ride over the past two weeks, with the cryptocurrency skyrocketing past $40k for a short time, before correcting to about $37k. Many industry experts are speculating that this may be a result of Amazon and Microsoft announcing their plans to adopt blockchain technology. While analysts believe these announcements may have been what pushed Bitcoin back up to $40k, some others speculate that this might have been part of an orchestrated pump and dump scheme. In any case, these announcements from major companies could potentially lead to a surge of new investors as well as make Bitcoin more mainstream.

Bitcoin has seen its fair share of ups and downs over the years, but if we’re going to start seeing it in greater numbers around us, the next few days will be pivotal for the currency. It will either continue its slide or increase exponentially in value and recognition.

We’ll just have to wait and see!

The Cryptocurrency Market

The cryptocurrency market has grown into a global phenomenon. The market is worth billions of dollars, and continues to grow as more people invest in it everyday. The market’s volatility also means that there are many opportunities for profits. If you’re interested in investing yourself, you’ll need to know the basics about how the markets work before jumping head-first into it.

1) Cryptocurrency trading doesn’t follow traditional economic patterns.

If you want to make money in the stock market, you can count on stocks following an upward pattern over time because they always rebound after drops (though not always). With cryptocurrencies, however, this isn’t always true. This means that the price of Bitcoin could have have have just shot up through the roof but then drop down again soon after. You can’t expect any specific pattern to emerge which will help you predict prices.

2) There’s no central bank for cryptocurrencies.

Unlike traditional currencies, cryptocurrencies don’t have a central bank to regulate them or distribute them evenly throughout the world economy. Instead, cryptocurrencies are mined by computers all over the world using mathematical algorithms. This means that there’s no one who needs to approve their circulation or provide stability for their value like a central government would do with fiat currency (e.g., US Dollar).

3) Cryptocurrencies are traded online 24/7 around the globe through digital markets called “exchanges”.

When one person buys another person’s cryptocurrency order from an exchange,

What is a Pump and Dump?

A pump and dump is a type of fraud where someone buys a stock and then aggressively promotes it to others, driving up the price. Then they sell their shares at an inflated price. The hope is that the person who bought the stock at the higher, artificial price now has nowhere else to turn but to buy those shares back for an inflated price.

When you see a post on Facebook or Instagram advertising a stock, make sure you do your research before buying in.

Will Amazon and Microsoft Support Bitcoin?

Bitcoin has seen its fair share of ups and downs over the past few years, but if we’re going to start seeing it in greater numbers around us in the next few days, the next few hours will be pivotal for the currency. It will either continue its slide or increase exponentially in value and recognition. We’ll just have to wait and see!

The Future of Bitcoin

Bitcoin has been on a wild ride over the past two weeks, with the cryptocurrency skyrocketing past $40k for a short time, before correcting to about $37k. Many industry experts are speculating that this may be a result of Amazon and Microsoft announcing their plans to adopt blockchain technology.

While analysts believe these announcements may have been what pushed Bitcoin back up to $40k, some others speculate that this might have been part of an orchestrated pump and dump scheme. In any case, these announcements from major companies could potentially lead to a surge of new investors as well as make Bitcoin more mainstream.

Bitcoin has seen its fair share of ups and downs over the years, but if we’re going to start seeing it in greater numbers around us, the next few days will be pivotal for the currency. It will either continue its slide or increase exponentially in value and recognition.

We’ll just have to wait and see!

Conclusion

Bitcoin is surging in popularity and value, increasing in value by more than 1,000% since January. Is Bitcoin the new gold?

Some experts believe Bitcoin could be the next global financial benchmark for the world. Bitcoin futures are now being traded on the CME Group, which is owned by Chicago Mercantile Exchange. Bitcoin is also being accepted by more organizations around the world, including Microsoft and Amazon.

No one knows what Bitcoin will do next. Bitcoin could crash in value or it could go up even higher. But one thing is for sure: Bitcoin is here to stay.