It has been a long time since the Bitcoin price skyrocketed and hope has been slowly seeping from the hearts of HODLers since. The price even dropped below $3400. Those were some dark times and people were even questioning if this was the end for all cryptocurrencies. Are the naysayers actually right about it? That there is no future in bitcoin, that it is a digital currency that you can neither touch or do anything with. Something outside our physical world that you own somehow (with your private keys).To be honest, it is similar to the existence of God Himself. No one has seen Him, no one has touched Him yet billions of us believe in His existence. For the HODLers out there, bitcoin is worth believing in. It looks like we were right. The prices have jumped significantly in the last few days and we will be looking into a possible reason why in this article. Let’s dive straight into it. 

The Rise of Cryptocurrency Prices

It’s not just bitcoin’s price, but as a whole, all cryptocurrencies saw spikes in their prices. There has been many speculations and rumours about what’s going on. But one of the biggest reasons for cryptocurrency price fluctuations is speculations. If an influencer says something about the crypto world, now that’s something that could change the prices.

Let me give an example, using the relationship between DogeCoin and Elon Musk. Many say it’s a joke, I am also one of these, but who knows the truth? After the 1st of April (April Fool’s day), there was a teaser from Tom Heats about their new CEO and that Elon Musk has been chosen. Not really expected, but Elon had a very positive response to that. See the Tweet below.

Dogecoin might be my fav cryptocurrency. It’s pretty cool.

— Elon Musk (@elonmusk) April 2, 2019

Right after that day 2nd of April 2019, the prices skyrocketed again.
See the image below for example with the bitcoin price chart:

There were a few followup Tweets by Elon Musk, which I believe helped a lot in holding the prices high, not just the bitcoin or Dogecoin prices, but all the market’s prices.

Dogecoin rulz pic.twitter.com/flWWUgAgLU

— Elon Musk (@elonmusk) April 2, 2019

Dogecoin value may vary https://t.co/UWerAhPv63

— Elon Musk (@elonmusk) April 2, 2019

The last nail in the coffin was Elon’s claim that he is actually the DogeCoin’s company CEO.

As you can see the world is ruled by people who are influencers. Pure power with a great number of followers. It has been like this for centuries, and it will continue. There is nothing constant in which you can invest and be sure that in time you’ll get double your investments in return. That’s why we call it “investing”. You are setting money in something with the great risk of lose all of them or getting wealthy with a bit of luck.

April Fool’s Day

Very slightly possible, but let’s mention it too. There were many people talking about how bitcoin price will hop-up on the 1st of April when it’s April Fool’s Day. Who knows, maybe this was the actual joke from DogeCoin and Elon Musk’s side. They wanted to have fun. That fun may have unintentionally helped us HODLers to seek hope again. Let’s start talking about the Moon and Lambos again.

Conclusion about the sweet and warm dreams if big prices

It doesn’t matter what happens, the true HODLers will always believe and trust in the future of the blockchain. What do you think, will there be even higher jumps in bitcoin prices? Will there be a serious influencer who will get into cryptocurrency? We at iCE3X believe!

The post The Bitcoin Price has Rallied and Started to Rise Again, But Why? appeared first on Cryptocurrency exchange: buy/sell/trade bitcoin & altcoins | iCE3X.