History for upswing Bitcoin cycles before the President Biden Executive Order
The halving is a process that was designed to control the supply of bitcoin and limit inflation. The halving happens every four years, reducing the number of bitcoins that are rewarded to miners by half. This event is often seen as a bullish indicator for the price of bitcoin because it shows that the supply is decreasing.
President’s Biden recent executive order
Some question whether bitcoin has peaked after President Biden issued an executive order that seeks to improve cyber security. President Biden issued an executive order to tout the benefits of blockchain technology.
Despite the recent turmoil in the markets, bitcoin has held its ground. Some analysts believe that bitcoin can withstand even more uncertainty. This is because bitcoin is a digital currency not tied to any government or financial institution. As a result, it can rise and fall independently of the traditional economic price just popped temporarily.
Bitcoin is not the only digital currency that is experiencing a price rally. Many of the other digital currencies have seen significant gains temporarily.
Bitcoin prices have been tearing lately, with the digital currency reaching new all-time highs. But could the rally be over?
Some are questioning whether bitcoin has peaked after, bitcoin can withstand even more uncertainty, there is still current downward pressure in the market, which affects all the other crypto coins.
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