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Wondering why BTC price is that low? Here's why!

3 min reading

The price of BTC trades around $ 11,000 per coin, yet many people find it too low. According to investment banker and cryptocurrency supporter Mike Novogratz, this is because it is an early stage in the Bitcoin adoption cycle.

btc price falling down

The price of BTC will not rise if people do not believe the cryptocurrency!

There are a multitude of people who have never encountered the cryptocurrency market in their life, know little about it, have wrong views or completely do not understand it. One Bitcoin enthusiast decided to describe a situation from her family home in which she tried to tell her relatives about BTC.

This topic became such an interesting topic for discussion that Mike Novogratz himself joined it.

Changing attitudes towards Bitcoin

Although on our way we often meet people who say that BTC is evil, SCAM or a financial pyramid, and investing in it is as dangerous as playing poker, it should be realized that such opinions are mainly related to the lack of basic knowledge about fundamental and financial issues. technical aspects of this cryptocurrency asset. The moment people begin to see the true characteristics of Bitcoin and what role it can play in the environment, their attitude towards it changes dramatically. An example is the CEO of MicroStrategy - Michael Saylor, who claimed back in 2013 that the BTC days are numbered, insisting that it is only a matter of time before this cryptocurrency will share the same fate as online gambling.

Apparently, this American entrepreneur has changed his views a lot, moreover, he admitted his mistake himself, explaining that he misjudged the cryptocurrency. The current activities of the company, which he leads, has become loud, due to the fact that it was the first company listed on the stock exchange to spend a significant amount of its reserves on the purchase of Bitcoins!

In total, MicroStrategy has as much as 38,250 BTC, which at the current rate of USD 10,940 translates into over USD 418 million!

The current situation on the BTC market

Yesterday's session on the most popular cryptocurrency was closed at 1.42% negative. Over the past week, Bitcoin has moved close to $ 11,000 per coin, hitting several occasions above it.

7 day btc price chart

The current BTC price is around $ 10,940. According to the fear and greed index, the market of this cryptocurrency has neutral emotions.

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