Three Factors That Contribute to Bitcoin Price Surge

Do you trade in the cryptocurrency market? If yes, you might have heard from the cryptocurrency market experts that there will be a consistent bitcoin price surge in the times to come. This bitcoin price prediction has already shown its presence since the price increase of nearly 30% since late June in 2020. So, investing in bitcoin can be highly beneficial at this time. As a trader who is always looking to make huge profits, consistent investment in bitcoin, and keeping an eye on the cryptocurrency market will be beneficial. 

Now, we know that as a trader you must be skeptical of every prediction and forecast and rightly so. But this article might convince you more about the potential rise of bitcoin. We will tell you, in brief, the three factors that will contribute to the future bitcoin price surge. 

· Correlation with gold: Just like gold is seen as a store of value and an asset worth investing in, bitcoin has also seen such a response from investors. Since mid-July 2020, both gold and bitcoin have seen similar price movements. This has helped bitcoin build its value amongst the investors as an important asset. 

· Declining US dollar: Since the pandemic and deteriorating US economy, the price of the dollar has fallen which has benefitted bitcoin. If this period of uncertainty continues, bitcoin is supposedly going to rise just like gold. 

· Long term macro metrics: It has been observed that holding and accumulating bitcoin has been an all-time high this year. This indicates that most investors are accumulating bitcoin as part of a long-term investment. 

So, you know the three factors that can contribute to the rise of bitcoin. And you can keep a keen eye on it with Follow Trend. 

Follow Trend is amongst the leading white-label platforms and provides precise bitcoin price forecast using artificial intelligence tools. The platform also provides software products that can help a trader like you to get the most benefit from the cryptocurrency market. As a trader, you might be always looking to invest in the market with the potential of growth. Follow Trend will offer you a shortlist of such markets. If you have been thinking of automated trading, this platform can provide virtual trading with autopilot and trading bots. So, visit Follow Trend to use AI-driven tools for efficient trading. 

About Follow Trend:

Follow Trend is a leading platform that provides bitcoin AI forecast and software for trading. 

For more information, visit https://followtrend.io/

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