Bitcoin Price Still Has Strong Instability
According to CNN analysis, bitcoin prices fluctuate in a narrow range, and the bitcoin trading volume is still small. Several facilitators such as the Bitcoin ETF and the traditional market are likely to be the beginning of the next bull market. But uncertainty is still an important feature of the encryption market. It is difficult to predict when funds will flow into the cryptocurrency market. Bitcoin has the danger of falling below $4,500, and historical data (including the bitcoin historical data which shown by the bitcoin history graph) suggests that this usually occurs in the last quarter of each year. Not only the encryption market, but also the traditional market is likely to plummet in the fourth quarter. The rise in TRX and IOTA does not obscure the market's overall bear market trend, and the megatrend is still bearish. But from the recent related bitcoin news, the acceptance of bitcoin is growing.
American rapper released a new single "Bitcoin"
According to bitcoin.com, US rapper Soulja Boy became the latest celebrity who wanted to connect himself with cryptocurrencies after releasing his new single "Bitcoin".A man in Shanxi province stealing train power to mine bitcoin was sentenced to 3 and a half years
The Railway Transport Court of Justice opened a special "miner theft" on September 13. A man was sentenced to three and a half years in prison for stealing bitcoin from the power of the train and was fined 100,000 yuan.Venezuelan bitcoin trading volume exceeded 1000 last week
According to Localbitcoins, Venezuela has traded 1,073 bitcoins (about $7.1 million) in the most recent week, the highest since 2013. The previous record was a total of 898 bitcoins traded in the third week of September.
The above 3 bitcoin news all indicate that everyone is more and more aware and recognizes the value of Bitcoin. The acceptance of Bitcoin is getting higher and higher. This is the sign that bitcoin is replacing the fiat currency and becoming a new payment method. In addition, British lawmakers use BTC to make donations to charities; online auto retailer Newparts said he will accept seven digital currency payments, including bitcoin. Of course, these piece of news is not enough to affect the Bitcoin price in the short term, but in the long run, it will have a subtle influence on the value of Bitcoin. I personally think that the price of Bitcoin needs to break through the $6,800 mark. Once the $6,800 mark is broken, based on the strong performance of emerging market assets and ETFs, the price of Bitcoin is likely to experience an explosive wave of fluctuations before December.