You might all know how Bitcoin and Ethereum went up last month and are still going up, right? Well yes, it does not seem to be stopping anytime soon. Well, the correction and retracement happen but that won’t be stopping our giant cryptos to keep going up. This insane growth happened due to a few reasons. Let’s check what the reason for crypto growth might be?
As we all may know, Inflation is on the rise. The inflation rate is going insane. From being 3% every year to quickly rising to 6%. And people are leaving jobs because of unsatisfactory pay rates. The reports from The Hill say “Roughly 4.4 million U.S. workers quit their jobs in September and the "quits rate" rose to 3 percent, according to the latest edition of the Job Openings and Labor Turnover (JOLTS) survey, each a new record. The number of job openings stayed roughly even in August at 10.4 million.” You can imagine how much it has affected the living of people.
Also talking about it, Elon Musk Recently posted regarding inflation saying “Due to inflation 420 has gone up by 69”. Well, humor aside this states that people have gained positive sentiments for stocks and crypto investments due to increasing inflation rates. Hence, the recent rise in the price of cryptocurrencies.
Also in the same Twitter thread Blockwords account showed how the $100 in 1950 is worth $8.7 in 2021 stating “In 70 years, $100 lost 91.3% of its real value”. It really blew me away with that fact.
Not only that, but regulation is also another factor for the crypto to keep pumping up. As you all might know, Cryptocurrencies are decentralized meaning no one has control over anything. With it, all the transactions done are completely anonymous and secure making it the best alternative for fiat.
More and more companies/industries are adopting cryptocurrencies as well. The mass adoption of crypto has already begun, don’t miss out on this opportunity. It is still in the mid-phase, I believe it has a lot of potentials to grow. Hop in the train and don’t regret it later.
With that news, we are sure to observe more surge in Bitcoin prices as it recently experienced a record-breaking all-time high value of more than $67K. Likewise, other Altcoins are predicted to grow as well, so pick up your pace and book your profit ASAP. XcelToken Plus is Ethereum based Utility token that can be used for booking over 450+ flights and 2.5M+ hotels across the globe. Not only that but it can also be used to top-up mobile or to buy gift cards from XcelPay Wallet as well.