What Is Driving Bitcoin Price Up?
Bitcoin price has been soaring recently. For many Bitcoin enthusiasts, it would not be a surprise to see a market capitalization of over 200 billions in the next two years.
On April 24th, Erik Voorhees predicted a $300 billion market capitalization on Twitter: “Tokens as an asset class have surpassed $30 billion. I predict over $300 billion within 4 years.”
So what factors are contributing to driving Bitcoin price up?
Estimates and data are still showing that more than 85 percent of global Bitcoin trading comes from China. Other countries have a much smaller impact. Of course, with so many data coming from every directions, it’s hard to precisely get those numbers.