Bitcoin prices are increasing on daily basis and is on rising trend. Bitcoin is making new all time highs everyday and may reach $2000. At the time of publishing this article, Bitcoin was priced at $1942 and is just a small gap away from $2000.
In Indian Markets Bitcoin is priced at INR1,56,636 on Zebpay and INR 1,54,976 on Unocoin at the time of press.
Bitcoin prices are continuously increasing from April 1 when Japan legalized Bitcoin. Bitcoin prices have almost doubled since March.
Every day, Bitcoin is making new highs and is resistant to stabilize. Traders expects a price correction as the prices have rosed too much in a short span of time.
But it looks like, Bitcoin will not stop and will touch $2000!!!
KryptoMoney.com posted an article earlier explaining all factors that contributed in Bitcoin price rise. From Japan legalizing Bitcoin to the possibility of activation of Seg-Wit in Bitcoin, each and every point was discussed in detail. “http://kryptomoney.com/index.php/bitcoin-price-may-reach-2000/” target=”_blank” rel=”noopener noreferrer”>(click here to read full article)
But now some more fundamental reasons are coming out which could be the contributing factors to the rise of prices in Bitcoin.
Recently due to some political turbulence in US, stock markets are not satisfying the investors for quite some time. As a result people are shifting to Bitcoin and other crypto currencies. Japan was the leader in Bitcoin market and was dominating in terms of Bitcoin trading volume.
But for the first time in 12 months, US has overtook Japan to be the leader in Bitcoin market in terms of trading volume.
The demand for Bitcoin and other cryptocurrencies in the US is rapidly increasing due to the recent recognition of Bitcoin as a Safe Haven Asset, alongside gold.
In fact it is fetching more returns than gold. A recent study came out wherein investment in Bitcoin and investment in Gold was compared. If $10,000 was invested both in Bitcoin and gold, the bitcoin investment amount today would be around $200 million where as gold would had fetched negative returns and would around $9980. Bitcoin had fetched more returns than stock markets, commodities and even real estate. (Click here to read full study)
Some gold investors in US have urged other investor and traders to hold Bitcoin in their portfolios as a mandatory asset to avoid market turbulence and economic certainty.
Experts says US stock markets and the economy may struggle to get stable and within this window, Bitcoin would gain special attention from investors.
As mentioned earlier also traders and experts believes that a price correction will soon be witnessed and Bitcoin prices will fall drastically.
On the other hand, US and Japan are witnessing significant rise in Bitcoin trading volumes .If this volume increases,Bitcoin price will surely increase. But if trading volume is stable or decreases , Bitcoin prices may start to correct. So all depends on the Bitcoin trading volume in US and Japan.
KryptoMoney.com suggest it’s readers to have a close look in US and Japan Bitcoin markets.
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