Bitcoin price has reached $52,600 after dropping for more than a week.
The bitcoin market is a volatile market that is bitcoin price changes over time. The changes occur due to several reasons but the most prominent factor that affects the price of bitcoin is the demand and supply.
When there is an increase in demand, the price will tend to increase and in crypto terms, market is bullish when the price is going up.
On the other hand, the price will decrease when there is more supply than demand. This occurs when people are selling their bitcoin. In crypto term, market is bearish when price is decreasing.
Bitcoin reached a new all time high of $58,500 in February after making more than 170% in 2021.
After reaching the all time high, bitcoin price retraces and forms a new low of $43,000.
Due to an increase in demand, bitcoin market become bullish again after the $43,000 support was rejected and has reached a new price of $52,600 which is an increase of about 20% within few days.
What does this implies?
Those that bought btc when the price was at $43,000 would have made 20% on their investment if they are still holding.
How can I also be part of the market?
There is no specified rules neither is there any government agent controlling the market.
All you need to do is to buy your bitcoin from a trusted source and keep it then sell when the price is high.
Kurepay, a leading financial provider, has made buying, storing and selling easy for all their users.
You can buy bitcoin at the best rate, store in your wallet and sell at your own convenience without any hidden charges.
You can also swap your bitcoin for any other supported cryptocurrency on the platform.
Register on kurepay wallet now and watch your investment grow.