Bitcoin Price Is Increasing

Bitcoin, like other cryptocurrencies, is not government-issued legal cash. Because it is not fiat, it will not succumb to inflationary forces such as those currently affecting the United States.

Bitcoin is a counter-inflationary asset, operating as a buffer against the harmful consequences of a local currency’s inflation.

It stands to reason that the largest cryptocurrency by market capitalization and its peers will profit during this period of economic turbulence in countries such as the United States.

Bitcoin, which has established itself as a viable store of value, could be the next stop for these folks.

As BTC activity increases, the digital asset’s trading price rises significantly. After staying around the $20K mark for the past few days, Bitcoin is again seeing a slight dip.

The Bitcoin trading price was $19,9423. It is down 1.42% in the last 24 hours but up 1.9% over the last week. The crypto market will likely remain in a bear market for some time. However, the third quarter of 2022 was far better than the second, when it experienced one of its worst losses. “Undoubtedly, another bull run will occur and may be considerably stronger than the last one.”

The Q3 NFT market figures were similarly mixed. This mirrored the image painted by the crypto market, with a $2.71 trading volume down 67% from Q2 but sales volume up 8.34% from Q2. The increase in sales implies that the NFT industry is in high demand, whereas the overall dip in trading volume may be attributed to the decline in cryptocurrency values.

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