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Why Bitcoin trading is currently booming


Johannesburg, 23 Feb 2021
Read time 4min 10sec

If there’s one thing we all know about Bitcoin, it’s that it can be a great investment. Thanks to its immense money-making potential, Bitcoin has the power to make regular Joes overnight millionaires. Of course, this incredible potential is something that tons of people have been taking notice of lately.

Bitcoin trading has seen quite a large spike in popularity in this last year, with more and more people actively participating in the Bitcoin trading market and trying their luck on the crypto-currency. As expected, multiple factors play a part in this, but here are a few that Xspot Technology is certain had a hand in this newfound appreciation for Bitcoin trading.

Information and availability

If you’ve been a fan of Bitcoin from the very beginning, then you probably already know that the crypto-currency has a bit of a rocky past. When it was released back in 2009, Bitcoin and crypto-currency were still very novel technologies. Most people had no idea what Bitcoin was and how it was used. What made things worse was how scarce this information was. While tech-savvy individuals might have found ways to learn more about Bitcoin, most regular folks had nowhere to turn to find out more about Bitcoin or how to obtain it.

Unfortunately, the lack of information on Bitcoin combined with the fear of the unknown spawned tons of misconceptions about what it was. These fake stories spread like wildfire, leaving a negative stigma attached to Bitcoin that’s only now getting cleared up. Thankfully, things are very different nowadays. Information on Bitcoin is quite literally everywhere. With a simple Internet search, anyone can take a deep dive into Bitcoin and crypto-currency and find out everything they need to know about it, including multiple ways to start investing in Bitcoin that take mere minutes!

Trading apps and platforms

Another big trend that certainly feeds into the increased popularity of Bitcoin trading is the rise of Bitcoin trading platforms. For those unfamiliar with these, Bitcoin trading platforms most often come in the form of software that’s designed to help both new traders and veterans make the most of their trading journey. Like yuanpaygroup.org, they offer a great deal of information that’s wrapped in an easily digestible package.

Of course, the information they offer isn’t even the best part! The best Bitcoin trading software has a lot more tricks up its sleeve than just Bitcoin trading guides and tips. Most often, these apps offer a range of tools to make trading an insanely simple task. These can include quite a few things, but one of the most interesting ones is automating the trading process. With the help of their advanced AI trading robots, users can fully automate their trading, letting the AI algorithms find the best investment opportunities out there to maximise their profits.

Price increase and predictions

If you’re an avid follower of Bitcoin, then you probably keep track of its current price. As of right now, the price of Bitcoin has reached an all-time high! People from around the world are amazed at the hefty price tag that now comes attached to the crypto-currency, so it’s no surprise to see so many of them taking an interest in Bitcoin trading. Bitcoin’s money-making potential has always been its number one tagline, and with the price increasing almost daily for months now, even the least hopeful are starting to see a spark.

As you can imagine, this big spike in the price of Bitcoin has been the inspiration for many new Bitcoin price predictions. Next to trading, making predictions for the price of the crypto-currency is one of our favourite Bitcoin-related activities. While a lot of the price predictions we often see online are made by amateurs who want to ride the hype train, a lot of them come from respected experts in the field. The surprising link between both of these types of predictions is how similar the content is!

Both amateurs and experts seem to agree that the price of Bitcoin is only going to rise in the future. In general, a slow and steady rise is expected to happen, but some have made outrageous claims that it will spike astronomically to reach six and even seven figures! Since so many never thought that the current peak price of Bitcoin would be possible, we can only hope that these insane claims of Bitcoin being worth millions soon are right.

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