Bitcoin is without a doubt the first and the most famous digital currency. Likewise
with any cash, the cost of Bitcoin additionally continues evolving. What's all the
more captivating is the way that it vacillates more than any fiat money.
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From USD Zero in January 2014 to USD 37,937 on February 04, 2021 – Bitcoin’s price has increased exponentially, particularly after the worldwide lockdown conditions triggered by COVID-19.
However, one can’t ignore the shocking BTC price drop in March 2020 when it hit USD 6,483.74, but thereafter it hasn’t looked back.BTC witnessed both kinds of investors – retail and institutional investors – during the period.
According to Fidelity, 800 institutional investors own around 36% of the crypto asset.
The list of institutional investors includes to the likes of MicroStrategy and Grayscale to JPMorgan and Goldman Sachs.
An independent study from crypto asset insurance company Evertas is of the opinion that hedge funds will increase their crypto holdings drastically.
Another crypto research firm Messari believes that more than 81,000 BTC belongs to “the treasuries of publicly traded companies.”SourceSo, what was driving them?
This blog is all about developing a white label local bitcoin clone for anyone who wishes to develop a cryptocurrency trading platform.
The LocalBitcoin is nothing but a platform that lets people trade bitcoins for local currencies.
It could be literally anything from INR, Euros, Yen, to Ethereum, Litecoin, Altcoins, etc.
When you develop an identity for your brand with a name, any additional services or products that you offer along with it come under your brand and the brand name becomes more visible.
There already exists a path that LocalBitcoin showed you.
It is sufficient if you follow it instead of developing your cryptocurrency trading platform from scratch.
While some invested in this digital currency, many ran away from the opportunity out of fear.
But some twelve years down the line, the price of Bitcoin now ranges between $30,000 and $50,000.
The stability of Bitcoin, over these years, has made many traders investors.
What Affects the Value of Bitcoin Because Bitcoin is a cryptocurrency, many forget that it’s a commodity.
On the other hand, commodities like gold have more value because they aren’t readily available.
The market trend of Bitcoin behaves similarly to the gold market because Bitcoin is a scarce commodity.