Bitcoin goes up, Yes, the most unstable Currency is growing again. Experts predict twenty-five thousand dollars per bitcoin before the end of 2018, but how do we know he’s not going to fall again? Sputnik spoke with Dr. PJ Radcliffe school of electrical and computer engineering at RMIT on the rise.
Companion: what do you think is the cause of the recent rise in price of Bitcoin?
PI-Radcliffe: it’s always very difficult to say what caused these lifts. Some people suppose that investors suddenly thought, ‘Oh, it’s really low in the six and a half thousand dollars, as it was, it’s worth more and they raised the price. Another you should consider is market manipulation. Bitcoin always mod as outside state regulation. This is one of the attractions, but what people tend to forget that the government helps to make sure no nefarious activities. So if stock price suddenly drops without reason, the public authority will tell companies, ‘Hey, what’s going on here, and maybe the increase in the share of trade. All this is intended to stop fraud and market manipulation. Nothing like bitcoin. Maybe someone buys quite a lot of Bitcoin to try to Jack up the price, we really don’t know. It may be that investors believe that it is undervalued, but it could also be a manipulation of the market forcing him to go up and down.
Companion: we could see Bitcoin start to move to being used as a currency and not an asset?
PJ Radcliffe: I’m still worried in terms of the lack of regulation and the possibility for market manipulation and fraud. While Bitcoin can eliminate, then do you want to be very careful. We see this even in some of the international prices of goods and services that a major player will sometimes manipulate the market to their advantage. Bitcoin opens wide opportunities for such things. Now, why should I trust my money in Bitcoin when there are many other financial instruments like credit cards and Bank transfers, which are relatively risk and pretty cheap? So, if Bitcoin can get some traction, to offer something that other financial instruments can offer, I don’t see a lot of advantages.
Companion: we can expect the rise to continue? Will we ever get another ‘record’?
PI-Radcliffe: I would not be surprised if Christmas killed Bitcoin. You will notice that the drop was quite a few days before Christmas, when people were busy with other things. What could be the cause of this. But overall, the 2 Bitcoin price surges. Several years ago, it spiked and then dropped back pretty far. It seems that now, when he rose to twenty thousand, and he falls down. But there is always a ‘dead cat bounce’ in all kinds of speculative activities. When things start to fall this is the moment when people begin to think that everything will be OK, and the price went up. So we see a series of bounces up and down, but the trend is down.
Sourse: sputniknews.com
