It has been a rather interesting week for Bitcoin and other cryptocurrencies, tokens, and assets. Most markets some very spectacular gains, albeit the momentum has come to an end as of this morning. More often than not, people wonder why Bitcoin and other markets are moving up or down at this time. Finding the exact reason for this volatility is not easy, but not too difficult either.
Bitcoin is Still Scarce
No matter how one may want to look at things, Bitcoin’s primary selling point – at least for investors – has not changed in the slightest. It is still a very scarce form of money, albeit a few more BTC have been mined since 2017. With its maximum supply not changing, it is evident the time to get in while Bitcoins are still being mined is slowly slipping through onlookers’ fingers. There will also be a block reward halving next year, which could very well factor in tot he current demand for BTC.
FOMO is Still a Thing
When a financial market moves up or down in an appealing manner, investors will try to get in…