The price of bitcoin has skyrocketed to 43,864 US dollars, which is the first time the world’s most famous cryptocurrency has reached this limit in a year and a half, constituting a rise in the price of the currency of 156.18% during this year alone.
When mentioning Bitcoin, screen Cards are undoubtedly mentioned; it is expected that there will be a crisis in screen cards again, due to the increased demand for these cards that are used in cryptocurrency mining. With the international ban on trading GeForce RTX 4090 cards in Arab countries, this crisis may also not enable us to get an RTX 4080 card.
Bitcoin has gone through many fluctuations over the past years, which makes cryptocurrency trading one of the most dangerous areas of trading ever. No matter how much your experience and knowledge of the crypto market increases, you will not be able to accurately predict the state of these volatile currencies; they are governed by a large number of variable factors, which we will talk about in this article.
The first crazy increase of bitcoin was in 2021, as the price of the cryptocurrency went from 5,000 US dollars, at the beginnings of the covid-19 pandemic, up to 68 thousand US dollars in November 2021. This is due to lockdowns that led to a collapse in the global economy, which lost public confidence in traditional investments. With people staying at home for long periods during the ban, the demand for technical products and gaming platforms increased, and a large segment of people got acquainted with the world of cryptocurrencies; which eventually resulted in an increase in demand for them.
The main reason for this collapse was the US Federal Reserve’s consecutive and violent raising of the interest rate, in order to combat inflation; the demand for traditional investments and the purchase of bonds and certificates increased again. This coincided with the collapse of FTX, one of the largest cryptocurrency trading companies, which declared bankruptcy in November 2022, which caused a large segment of investors to lose confidence in this volatile market.
