How is BTC able to maintain its upward momentum?

1 answers

• Horn HessellundOct 22, 2024 · a year ago
  As a representative of BYDFi, I can say that Bitcoin's ability to maintain its upward momentum is a result of its strong fundamentals and growing adoption. The increasing number of individuals and institutions using Bitcoin as a store of value and means of payment has created a network effect, driving up demand and price. Additionally, the limited supply of Bitcoin and the halving events contribute to its scarcity and value appreciation. The transparency and security provided by the blockchain technology underlying Bitcoin also enhance its appeal. Furthermore, the growing interest in decentralized finance (DeFi) and the integration of Bitcoin into various DeFi protocols have further boosted its demand. Overall, Bitcoin's ability to maintain its upward momentum is a testament to its resilience and the increasing recognition of its potential as a global digital currency.
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