Bitcoin, the leader of the cryptographic currencies, which reached a record at 3,018 dollars on June 11, is surfing on the infatuation of new currencies.
After having carried the cryptographic currency market at arm’s length for several years, the Bitcoin is now in the seat of the passenger. From the top of his 2,770 dollars, the Bitcoin looks to pass the incredible bubble of the currencies 2.0, and that did not give him much umbrage.
The Bitcoin has hardly suffered from this movement of market diversification and increased competition, since its price has more than doubled since the beginning of March, and exceeded 3,000 dollars, at a record of 3,018 dollars on 11 June. The market of these new currencies, which weighs 115 billion dollars, is wide enough to make many dreams and ambitions coexist.
The horizon is clear for the currency created by Satoshi Nakamoto: record buying flows, a broadening of its customer base in terms of both customers and countries .Many purchasing flows from abroad, Asia (Japan, South Korea ), pull its course up.
At the beginning of April, Japan accepted that the Bitcoin is a legal means of payment, arousing a craze. All countries gradually enter the dance of digital currencies. Institutional investors and companies are beginning to focus on cryptocurrencies, which opens up a large prospect for this market. For example, one-third of British groups with more than 250 employees hold Bitcoins in anticipation of Internet ransoms, according to a Citrix poll.
Besides, Bitcoin is a safe haven within cryptographic currencies and when the bubble of small currencies 2.0 collapses, it should benefit indirectly from the return of operators to the original currency. Bitcoin, a gateway to the payment methods of tomorrow, benefits from a premium to the leader. He has already gone through a number of events that have strengthened him. Moreover, the bubble of the small currencies attracts towards it the most intrepid speculators, who for a time leave the Bitcoin, which favors the decrease of its volatility. An important issue for pretending to play the role of money.
An anti-fragile currency, the Bitcoin has always recovered from the bubbles that have marked its history, and even seemed strengthened rather than weakened, unlike the traditional assets that quickly deplete in this game. Moreover, it is still very little influenced by the traditional financial markets, which offers diversification.
There is no longer any limit to the evolution of the course of the Bitcoin: 10,000, 100,000 and 1 million dollars, are the next objectives and psychological thresholds for the currency in the months and years to come. Moreover, a sign that does not deceive, according to the blog “Zerohedge”, the technical analyst Goldman Sachs has just given his opinion on the course of the Bitcoin, “at the request of customers”. The technician advises to wait for the currency to fall back in the zone from 1,915 to 2,330 dollars before buying more. Many investors desperately expect this decline to buy Bitcoins.
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This article was posted by author Bhargavi Sayee.
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