Bitcoin reach the 10K USD level, the factors behind this surge ?

The global average bitcoin price briefly broached the $10,000 mark on Tuesday, largely due to significant premiums on high-volume South Korean exchanges. Meanwhile, the number of cryptocurrencies in the billion-dollar club swelled to a new all-time high — and more are poised to achieve that status soon.

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The others 10 major crypto markets also post new profit today expet Ethereum that Posts Minor Decline, Litecoin reach today 93.1 USD, Bitcoin Gold post also today profit today and reach 329 USD, also ripple was the major earner today by posting 12.5 % of profit , also we have notice IOTA that reach 1.24 USD with a total profit of 28.40% for investors .

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Now, what are the factors that push Bitcoin to reach 10K USD :

1-Major announcements :

one of the major contributing factor for Bitcoin’s sizeable gains is the reality that Bitcoin futures will soon be traded on major regulated markets. Two of the world’s largest futures markets, the Chicago Mercantile Exchange (CME) and the Chicago Board of Options Exchange (CBOE), will soon launch Bitcoin futures, this will allow to institutional investors Like banks and investment firms to trade bitcoin with bieng regulated by the laws in USA .

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2-The growth of the Bitcoin network :

the daily transaction volume is now over $2 bln on the bitcoin blockchain , also mining Bitcoin become more profitable then ever for miners .

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As transactions continue to proliferate, Bitcoin mining has become increasingly profitable as well. Miners today make $1.5 mln in fees alone, not including block rewards, as the market has increased, the mining returns have increased exponentially as well.


The growth of the Bitcoin network , image from cointelegraph

3-The growth of the Global adoption :

More and more contry are adopting Bitcoin as a payment methode, assets, or investment .fffffffffffffffffffffffffff

The growth of the use of Bitcoin in EUROPE, picture from Localbitcoin


Regions with greater access to technology have, of course, seen the most consistent adoption curves. For example, consider the European adoption graph below, and note  that the adoption has steadily grown, but the huge jumps are not the norm.

However, other nations with substantially less democratized technology are just now catching up. Venezuela is a great example; as the Bolivar has devalued, the adoption of Bitcoin has risen exponentially.


The growth of the use of Bitcoin in Venezuela

Read also :

Bitcoin in the road to-10k or to the road to make another correction


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