. Big Money Drives Bitcoin Resurgence: Here’s What You Need to Know20. January 2023
• The resurgence of Bitcoin in early 2023 has been attributed to the supply and demand myth.
• The lack of demand for Bitcoin is due to the lack of disposable income, as well as its lack of a safe haven characteristic.
• Big Money is responsible for the resurgence of Bitcoin, as these institutions have billions to invest and control money markets.
The resurgence of Bitcoin in early 2023 has been a source of intrigue for many investors and economists. After falling from its all-time high of over $20,000 in November 2020, Bitcoin has once again climbed above the $20,000 mark, showing a renewed fervour in the digital currency. So, what could be driving this resurgence?
One popular myth is that of supply and demand – when something is lacking, it becomes more expensive and sought after, and when it is in abundance, it becomes cheaper and less interesting. However, this does not appear to be the case when it comes to Bitcoin. Despite there being more Bitcoins added to the overall supply each day, the supply is still far from scarce, and few people are running out and buying Bitcoins right now.
The other factor contributing to the lack of demand for Bitcoin is the lack of disposable income. Inflation and high interest rates mean that people are not investing for a brighter future, as they once were. This, in combination with the lack of a safe haven characteristic for Bitcoin, has meant that investing in the digital currency has fallen by the wayside.
The real driver of the resurgence of Bitcoin appears to be the Big Money institutions – banks, financial institutions, insurance companies, pension funds, etc. These institutions have billions to invest and control the money markets. They have been using this money to invest in Bitcoin and other digital currencies, and this has been the main cause of the renewed interest in Bitcoin.
In conclusion, the resurgence of Bitcoin has been caused by a combination of factors, one of the most important being Big Money. With these institutions investing billions in the digital currency, it is no wonder that Bitcoin is once again on the rise.