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Bitcoin price surges along with interest and new users

As Bitcoin's price surges, so does interest in Bitcoin from the general population. Every price increase in the past has had this result, and this one is no exception.

You may have heard (or seen) that Bitcoin recently jumped in price from around $6250 (as of last week) to nearly $7500 today. As noted by this CoinDesk article, $600 of this jump happened over a period of only 30 minutes.

As always, speculation on why the price has increased or decreased is just that—speculation.

Every surge of the price brings with it a surge of new users who don't know anything about how Bitcoin works or why it was invented, but are merely interested in getting rich quick. Inevitably, some of these users will invest carelessly and lose money. Most of them will leave after they decide Bitcoin is not something they are interested in, but a few will stay because of interest in the technology itself.

It is these users that we must educate when they decide to stay. After all, we were likely in the same position ourselves when we first heard about Bitcoin.

What Is Bitcoin?

Bitcoin is a decentralized peer-to-peer cryptocurrency that allows you to send money to anyone in the world almost instantaneously. It is not controlled by any government and your payments cannot be censored.