Why Is Bitcoin’s Price Rising?

Election uncertainty and comments for central banks have emboldened investors.

In recent weeks Bitcoin’s price has seemed to continue marching higher. But what is driving this growth? It turns out there are a wide variety of factors that continue to make Bitcoin rise in value.

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KEY TAKEAWAYS

  • Bitcoin broke a key resistance level making investors believe there is further upside.
  • Rising inflation and the potential for even more stimulus continues to push people to safe-haven assets.
  • Increased adoption from payment applications like PayPal will give far more people easy access to cryptocurrency.
  • Publicly traded companies purchasing Bitcoin shows a high level of confidence in its appreciation.
  • Bitcoin’s historical trend of closely following its halving stock-to-flow model shows an ambitious and extremely bullish outlook. […]

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