There are a few reasons behind crypto-currency making many headlines. One of the Classic reasons is volatility. The inherent volatility of cryptocurrency affects every month and surprises the investors with a new price to make a headline. However, both cryptocurrency market investors are aware of new drops and tremendous growth. 2021 came up with plenty of drama and fluctuation. All the significant cryptocurrencies significantly impact the price in the first quarter of the Year.
Talking about Bitcoin, the richest man of America who owns Tesla Company bought cryptocurrency shares and treated them on social media. He has often criticized the cryptocurrency movement, but as mentioned above, 2021 was a different year as, along with price, people also changed their perspective.
January 2021
The Year always begins with January. The winter month has attracted Elon musk. His 1.3 billion investments in Bitcoin increase the price by 20%. Many say that within a few hours of the announcement on social media about recent investment in Bitcoin, the price moved by 15%. So January was a good start for the cryptocurrency investors and musk for the added Boom.
February 2021
The CEO of Tesla tweeted about Bitcoin and the fruitful fractions. Tesla event announced that the company is open to investors and customers who want to invest through Bitcoin. Anyone who wants to buy an electronic car from Tesla can ask the company for a bill via bitcoin. It was not the first time a company asked customers for Bitcoin payment. Many organizations are already dealing with cryptocurrency holders. However, his tweet brought a new light and changed the significance of cryptocurrency for a better future.
March 2021
Bitcoin was going through a significant phase of life where the price increased. The investors were happy with their decisions and looked forward to making more profit. The volatility impacted the cryptocurrency positively. They were fewer people who were selling their crypto coins. Infant, the straight run of cryptocurrency from 2020-2021, brought the price’s first change with record-breaking history. The market of Bitcoin has gained popularity by 1000% from the last year.
After the valuation, it analyzed that people’s buying behavior has changed as they now look to convert their money into a digital asset.
May 2021
While everything was going the right way, the year’s second quarter was relatively low. The investors were recovering the money as the price went down below 30000 dollars. The volatility of cryptocurrency changed the entire environment, and many companies disconnected their Association with Bitcoin. However, the organizations that did not accept Bitcoin never sold it back in the market.
June 2021
The rough face of cryptocurrency did not end. Again a new bomb on Bitcoin was exploded by China. The government crackdown the existence of Crypto and announced the shutdown of the Bitcoin mining industry. Around 16 % drop in the price of digital money in 24 hours made a significant change. There was a massive financial crisis, and the central bank of China or the other financial institutes disconnected the services.
While nobody has ever dreamed about Bitcoin being legally banned by China, the same country that first led the digital mining is now asking to stop the continuous discovery of Crypto coins. However, the dream of Crypto investors came into reality when the Latin American country asked for alternative money. There were so many cases against the widespread of Bitcoin; however, El Salvador accepted the significant step to legalize the acceptance.
December 2021
The last month is always crucial as it passes the investors and money to next year. December was significant in price and market cap. Bitcoin maintains the same price. As per Ethereum Code, the changes that happen every month classify the importance of cryptocurrency. It is essential to have other months with different information. If the price remains constant for the entire year, the search of people about Bitcoin will reduce. Volatility is a Spice factor that makes the individual enthusiastic. The Limited supply and acceptance from different corners guess the chances to the people.
To conclude, just like every month is different and every season brings a new change, the cryptocurrency price changes the economy’s fundamentals.
