Why does the epidemic affect the price of Bitcoin? (Is the epidemic good or bad for Bitcoin?)

Why does the epidemic affect the price of Bitcoin? According to bitcoinist news, the impact of the COVID-19 pandemic is gradually diminishing. The value of Bitcoin is also increasing globally, but there are also factors affecting the price of Bitcoin. These factors include: Why does the epidemic affect the price of Bitcoin? 1. The epidemic has a significant impact on the market, and investors must remain vigilant; 2. Central banks and governments of various countries will adopt stricter restrictions to prevent the use of digital currencies; 3. Governments and banks of various countries will begin to assess whether there are new ways for other encrypted assets to be considered legal currencies.

Is the epidemic good or bad for Bitcoin?

Is the epidemic good or bad for Bitcoin?

According to TokenGazer’s data analysis, as of 4:00 PM on August 4th, the price of BTC was $9,170.75 (-2.06%), with a market capitalization of 16.282 billion US dollars. The 24-hour trading volume was $1, who cares?

It does matter for BTC because its price has been in a low-level oscillating trend for some time. Currently, it hovers around $10,000, but the market sentiment is still mostly bullish.

So, technically speaking, can there be a significant rebound in the market after the widespread outbreak of COVID-19 this time? And if it can sustainably rise and break through the $9,000 level, short-term correction can be expected. However, it is worth noting that with a few days after US President Biden submits the infrastructure bill to the Senate, there may be some degree of turbulence in the global financial markets. (Login to the APP to discover and view exclusive evaluations of more currencies)