What’s your idea about the rise of bitcoin demand?

Bitcoin trading have surpassed 90% of the total trading volume in cryptocurrency exchanges. According to the data from TurtleBC, the demand of bitcoin is more than its supply. Although it began to decline continuously after setting a record of $20000 in December last year, it is never demanded by so many investors.

People’s interest in buying cryptocurrency is reflected on the data, which seems to prove the financial celebrities’ opinion: the market will recover soon. Saxo Bank is always optimistic about bitcoins. Jacob Pouncey, the analyst in the bank predicted that the second quarter of 2018 will be the beginning of bull market. The founder of Fundstrat Global Advisors, Tom Lee is also optimistic about bitcoin and forecast that bitcoin price will achieve $25000 before the end of this year. Besides, after analyzing the habit of bitcoin trading, Unchained Capital found that the rate of selling bitcoin achieves 58%.

I think the rise of bitcoin demand reflects that bitcoin is developing well. Although we cannot predict the trend absolutely, we can be optimistic about it. What’s your idea? 

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