If you are an enthused reader of all that happens in financial markets, looking forward to opportunities, particularly those concerning cryptocurrencies, then Bitcoin is definitely something you would be interested in discovering more information. You will notice tremendous leaps in Bitcoin prices during the week. Bitcoin is currently going for more than $68,322.67 with the price greatly increased from the earlier prices. But what are the factors contributing to the increasing movement on the graph? Let us dive into them, and see which factors are behind the latest BTC price surge.

Institutional Adoption and Activity

A major force contributing to price hikes in Bitcoin value is its recognition as an investment option by diverse institutions. Major corporations and financial organizations are rapidly investing in Bitcoin, recognizing it as a legitimate asset class. This flow of institutional investment has great potential of pumping the price of Bitcoin to even higher levels as these well-endowed investors pour theirs and other people's money into the market.

Geopolitical and Macroeconomic Aspects

Bitcoin prices are constantly changing, and recent market trends have also been influenced by non-specific factors such as macroeconomic and geopolitical characteristics. Many investors view bitcoin as a hedge against traditional financial markets due to ongoing internal uncertainties and geopolitical pressures. Due to its nature as a currency, Bitcoin is able to keep up with the in-flowing money within the market.

Trading Volume and Market Sentiment

Another element leading to Bitcoin's price increase is an increase in trading volume. upward trade volumes suggest increased market activity and interest, which might push prices upward. Additionally, improved market mood and encouraging news about Bitcoin have spurred investor enthusiasm, resulting in increased buying activity and upward price pressure.

Technical Patterns and Market Trends

Technical research and market movements have also contributed to Bitcoin's price surge. Traders and researchers have found bullish patterns and trends in Bitcoin, indicating a favorable future. These technical indicators have encouraged more investors to enter the market, pushing the price higher.

There are three different crypto currencies that are capturing the attention of the world. Determining which is the best is a common activity. Understanding just a little about each can help determine which is the best for you.

Bitcoin
It is the oldest of the crypto currencies. It is also the most common of the three crypto currencies. It is the only one that is currently being accepted as payment in everyday commerce transactions either online or in brick and mortar locations. It has a limited supply of 21 million bitcoins. The current amount of bitcoins in circulation is approximately 16.70 million bitcoins.

Litecoin
Litecoin closely resembles Bitcoin. It was created to be the alternative for Bitcoin. Litecoin's mining system is less complicated than that of Bitcoin. The result is quicker confirmation time of 2 1/2 minutes compared to the 5 minutes it takes for a Bitcoin confirmation. There is a limited supply of 84 million Litecoins of which 53.99 are in circulation.