As strange as it may seem, the price of bitcoin has increased dramatically over 1000 $almost night, with some saying overcome psychologically important level of $7,000 price did the job.
After several months of steady decline, major global virtual coins already significantly higher than the $7,500 mark and even briefly was more than $ 8,000, according to the company, and the exchange of cryptocurrencies.
It’s not entirely clear what has caused a huge surge in the volatile currency prices, although some have suggested that the growth of the bitcoin investment was caused by the coin breaking the $7,000 level some time ago.
Compared with yesterday, bitcoin rose by 12 percent, and it showed an increase of 14 per cent on last week’s rates.
At the end of last year bitcoin rate has increased by more than 500 percent in price, approaching as much as $20,000 per coin. However, at the beginning of 2018, the tariffs were not inspiring, perhaps because of the frequent reports that virtual currencies, in fact, nothing more than a soap bubble, which peaked in December.
To top it off, the vibrations could be affected by recent reports the world’s largest tech giants, namely Google, Facebook and Twitter are choosing to ditch the online cryptocurrency advertising.
Other major cryptocurrencies followed the pattern of bitcoin with Ethereum, ripple, bitcoin, cash and EOS more solid ground and experiencing a 10% rise in price since yesterday.
Cryptocurrency analysts have long been speculating on the fate of bitcoin. Many said troubles are only temporary. For example, Michael Jackson, former COO of Skype, who is currently working in the cryptocurrency space, independent that, despite the deep crisis, there is a huge effort for the cryptocurrency from all over the world, many new technological achievements are being introduced in the field. They “charge faster transaction” – he said.
It was also reported that the bitcoin becomes a new indicator of the stock market, as stocks and bitcoin are considered risk assets: at the end of last week, the stock market decline on the heels of China imposing retaliatory duties on U.S.-manufactured goods corresponds to a similar dip in bitcoin value.
Some experts went further and said that bitcoin is already being used “for the same purpose as gold”. This point of view Stepan Gershuni, a partner in the mining company, and staunch advocate of the bright future of bitcoin.
This prediction clashes with the comments of the economists in the Bank Barclay’s this week, calling the huge increase in bitcoin price in 2017 the “infection” it’s contagious:
“We have developed a theoretical model of the asset price with a pool of speculative investors, and compared with the actual bitcoin price behavior to see what it might mean for future momentum,” economists say. “The model has clear Parallels with compartmental model the spread of infectious diseases in epidemiology”.
Sourse: sputniknews.com
