Bitcoin has maintained its value at the $28k level even though the crypto market is facing many troubles.
Easy for Public in Emergency
The Israel - Hamas war is creating a background of world war in the Middle East. The markets are sure to fall, yet the level of Bitcoin is currently saved from this fall. One of the reasons behind this can also be that the people trapped in the war and the belligerents Organisations are able to use Bitcoin easier than fiat.
Effect of approaching halving
Bitcoin halving is scheduled to happen next year; this will halve the reward for mining bitcoin, due to which the value of bitcoin is likely to increase. After the last three halvings, the price of Bitcoin had reached a new ATH; this time also, there seems to be a possibility of a big price increase.
Rise of Bitcoin fever in Politics
With Bitcoin supporters dominating the presidential elections in America, the possibility of a new arrangement for Bitcoin has increased. Recently, the President of Portugal's autonomous region of Madeira has made a Bitcoin friendly region in Europe by accepting all its uses.
