"Why did Bitcoin experience a sudden surge in value?"
There are several factors that have contributed to the rapid rise in the price of Bitcoin. One major factor is increased adoption and recognition of Bitcoin as a legitimate form of currency and investment. This has led to increased demand for Bitcoin, as more people are interested in buying and holding it. Additionally, there is a limited supply of Bitcoin, which has caused the price to rise as demand outstrips supply. Finally, the massive amounts of liquidity injected into the global economy by governments and central banks during the COVID-19 pandemic have caused many investors to seek alternative assets such as Bitcoin as a hedge against inflation.
Release time 2023 06 09