Photo by Andr\u00e9 Fran\u00e7ois McKenzie on UnsplashCryptocurrencies, especially Bitcoin, are now being considered as safe-haven assets against market volatility and inflation. The current societal and economic climate also brings about a situation for people to hold less cash and stay hedged against market swings.The cryptocurrency market has continued to witness a boom despite the global pandemic wreaking havoc on all significant economies on the planet.Many crypto startups have emerged in the space during this pandemic to cater to the ever-increasing demand for Bitcoin and alike cryptocurrencies.For instance, CoinSwitch Kuber recently announced the raising of $15 million Series A funding from leading global fintech investors such as Ribbit Capital, Paradigm, Sequoia Capital India, and prominent angel investor Kunal Shah from CRED.Cryptocurrency market capitalization fueled by Bitcoin\u2019s growth recently crossed the $1 trillion mark. Out of which, Bitcoin, has been on a bull run for quite some time and is responsible for roughly 69% of the total market value.Just six months ago, the price of one Bitcoin was ~\u20b96,00,000, and today Bitcoin is trading for ~\u20b925,00,000, which is approximately a 400% rise in the price. Ether, the second-largest cryptocurrency in terms of market capitalization, crossed a new high of over \u20b91,00,000 and rose over 1,000% in value in one year.Similarly, many cryptocurrency prices have been on the rise, and investors are wondering why. Here are three reasons why cryptocurrency prices are rising:1. Institutional AdoptionPhoto by Digjot Singh on UnsplashCryptocurrencies, especially Bitcoin, are now being considered as safe-haven assets against market volatility and inflation. The current societal and economic climate also brings about a situation for people to hold less cash and stay hedged against market swings.Recently, there has been a trend where public companies are converting their cash treasuries into crypto.2. PayPal & CryptocurrenciesPhoto by Rami Al-zayat on UnsplashIn October 2020, the\u2026<\/p>","protected":false},"excerpt":{"rendered":"
Photo by Andr\u00e9 Fran\u00e7ois McKenzie on UnsplashCryptocurrencies, especially Bitcoin, are now being considered as safe-haven assets against market volatility and inflation. The current societal and economic [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/posts\/3772"}],"collection":[{"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/comments?post=3772"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/posts\/3772\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/media?parent=3772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/categories?post=3772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/tags?post=3772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}