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Dr. Scott Stornetta is the blockchain co-inventor quoted in the Bitcoin whitepaper written by Satoshi Nakamoto, who created the first cryptocurrency in 2009.

Since 2017, the word Blockchain has resounded more and more often in the ears of Italians. The technology became famous mostly thanks to the Bitcoin marvel, which in December 2017 reached a record value of more than $20,000. There are numerous applications, nevertheless in a nascent stage, of this technology: in the context of financial technology (FinTech) we can think of digital payments in cryptocurrencies, smart contracts and insurance.

It has become very competitive and expensive to mine Bitcoin than Ever. The BTC mining difficulty has hit a new record high at about 7.93 trillion. The figure represents a 7% increase from the previous number of 7.45 trillion. Bitcoin adjusts its difficulty after every 2,016 which is about 2 weeks.

In the past weekend, Bitcoin surged up to $9,381 with the increasing rate of 7% in 24 hours which makes bitcoin’s market cap be over $165 billion US dollar, hitting the highest record so far in 2019. Since BTC’s breaking $8,000 mark in May, it continues its upward movement though there are some pullbacks. Why BTC managed to rise above $9,000? Here are 5 reasons may be contributing to the Bitcoin bullish run.

The whole blockchain and crypto market has seen gains in the prices of digital assets, especially Bitcoin, the oldest and leading cryptocurrency by market capitalization. On May 12, Bitcoin (BTC/USD) traded above the $7500 price level, which is its record high price since August 3, 2019 (around nine months). Several crypto analysts anticipate BTC to skyrocket and hit $10,000 before this month ends.

Recently, the Governor of Maryland, United States, Larry Hogan, officially signed a bill into law to amend the General Corporation Law of the state. Senate Bill 136 enables the industrial use of blockchain by private corporations to carry out proper and secure record keeping. The new amendments will come into force in October this year.

Bitcoin surged to the highest level a few hours after April 1 (April Fool’s day), which has led very many people in the cryptocurrency industry to believe that this factor was behind the record skyrocketing since the past five months. Meanwhile, Bitcoin (BTC/USD) is trading at $5027, according to coinmarketcap data.

Bitcoin average trading volume has now reached new highs since 11 months ago.  Bitcoin is the globe’s leading cryptocurrency by market cap. BTC/USD is trading at $4,032 and the total MC is at $139.587 billion, at press time. It has surged up around 150% since October’s record lows. The average daily Bitcoin transaction volume hasn’t registered levels this high since January last year.

Bitcoin, the leading crypto by market cap, has plunged over 80% from its record high meaning that there is not much possibility for further dive. It is very likely to find a low ranging between $2,000 to $3,000. Bitcoin is currently trading at $4,037, according to coinmarketcap data.