Bitcoin: Will these reasons expedite mass adoption?
The post Bitcoin: Will these reasons expedite mass adoption? appeared on BitcoinEthereumNews.com. Bitcoin saw some social dominance stimulation as the prospects of spot ETF improved. Bitcoin’s deflationary characteristics could make it a hedge against financial and regulatory tyranny. With each passing day, the possibility of a Bitcoin [BTC] white swan soars. The market has seen a resurgence in optimism after previously struggling with downside. This is apparent in Bitcoin’s social dominance. Is your portfolio green? Check out the BTC Profit Calculator The social dominance metric soared to its highest monthly level in the last 24 hours. This was no coincidence, considering that the hopes of a Bitcoin ETF soared as the SEC’s deadline to appeal Grayscale’s Bitcoin ETF expired. But that’s not all. Ferrari, the famous Italian automobile manufacturer, just announced that it will accept BTC as payment for vehicle sales. More than 70 million bitcoin interactions across social media today. Here’s what’s trending: → US officials say they’re worried a Chinese-owned #Bitcoin mine in Wyoming will pose a national security threat. → SEC will not appeal court’s decision on Grayscale’s #Bitcoin ETF.… pic.twitter.com/ZeRFkp8uxB — LunarCrush (@LunarCrush) October 14, 2023 But not all good news contributed to Bitcoin’s social dominance surge. There were also reports that the U.S. is reportedly concerned about a Chinese-owned Bitcoin mining operation in Wyoming as a potential threat to national security. While this might not necessarily indicate a potential negative impact on price, the former two underscored the possibility of stronger demand in the long term. The wheels of Bitcoin adoption could spin faster The reports of Ferrari’s decision to accept BTC payments also emphasized the growing pace of adoption by mainstream businesses. However, there are many other reasons that could push for the rapid adoption of Bitcoin. One of Bitcoin’s major traits is that its deflationary characteristics make it an appealing long-term investment. But there is…
The post Bitcoin: Will these reasons expedite mass adoption? appeared on BitcoinEthereumNews.com.
Bitcoin saw some social dominance stimulation as the prospects of spot ETF improved. Bitcoin’s deflationary characteristics could make it a hedge against financial and regulatory tyranny. With each passing day, the possibility of a Bitcoin [BTC] white swan soars. The market has seen a resurgence in optimism after previously struggling with downside. This is apparent in Bitcoin’s social dominance. Is your portfolio green? Check out the BTC Profit Calculator The social dominance metric soared to its highest monthly level in the last 24 hours. This was no coincidence, considering that the hopes of a Bitcoin ETF soared as the SEC’s deadline to appeal Grayscale’s Bitcoin ETF expired. But that’s not all. Ferrari, the famous Italian automobile manufacturer, just announced that it will accept BTC as payment for vehicle sales. More than 70 million bitcoin interactions across social media today. Here’s what’s trending: → US officials say they’re worried a Chinese-owned #Bitcoin mine in Wyoming will pose a national security threat. → SEC will not appeal court’s decision on Grayscale’s #Bitcoin ETF.… pic.twitter.com/ZeRFkp8uxB — LunarCrush (@LunarCrush) October 14, 2023 But not all good news contributed to Bitcoin’s social dominance surge. There were also reports that the U.S. is reportedly concerned about a Chinese-owned Bitcoin mining operation in Wyoming as a potential threat to national security. While this might not necessarily indicate a potential negative impact on price, the former two underscored the possibility of stronger demand in the long term. The wheels of Bitcoin adoption could spin faster The reports of Ferrari’s decision to accept BTC payments also emphasized the growing pace of adoption by mainstream businesses. However, there are many other reasons that could push for the rapid adoption of Bitcoin. One of Bitcoin’s major traits is that its deflationary characteristics make it an appealing long-term investment. But there is…
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