Novogratz: Bitcoin-altitude flight continues on the basis of an international trade war
Home News Novogratz: Bitcoin-altitude flight continues on the basis of an international trade war
Marcel Knobloch –
The roller coaster ride goes on, so that the price of Bitcoin this weekend is once again risen sharply, and on the way to 8.000, – Euro-brand. Thus, the price of BTC has doubled within a few months, and shows that, contrary to all death sermons that Bitcoin, as well as the rest of the crypto market are destroyed everything other than on the ground.
The reasons for the short-term annual growth of BTC and other Altcoins are, as always, hard to come by, however, there is a possible explanations of experts, which could be the derzetige development under the walls. The price of Bitcoin recorded yesterday evening after 21 clock a significant upturn and increased within an hour of almost 7.169,25€ 7.794,01€ and now stands at the time of writing (8:00) at 7,800,28€. The market capitalization of the entire crypto market rose from just under € 225 billion to its current level of almost 240 billion euros.
Bitcoin-COP, and more driver billionaire Mike Novogratz, holds the President, Donald Trump sparked a trade war between the world’s two economic superpowers, the United States and China, among other things, for the current course development. The Chinese have reason to fear further sanctions for their own economic strength, so that you invest your existing capital to small Parts in Bitcoin and Altcoins (freely translated):
I would say it gives the feeling that Chinese money is flowing into this room in the crypto market. Why rose Bitcoin of 4,000 USD 8,000 USD? Because of Facebook, because of Microsoft – no! I think this is due to this trade war and to the fact that a large part of the sale was made.
Novogratz goes on to state that the United States ‘ currencies in relation to Crypto, and a clear uniform scheme significantly behind other States back, and it is high time, for the regulator tables for clarity, so that investors can find solid frame bediungen and in the crypto market can get. The US securities and exchange Commission SEC has, despite the worldwide introduction of safety rules token previously adopted, sooner or later, the rescheduled must be.
Novogratz sees in Bitcoin a key value store that is in competition with the precious metal Gold. Gold has proven itself over centuries as a safe haven in the history as a store of Value. The price of Gold is also volatile, but far from the price fluctuations of Bitcoin. Bitcoin is regarded as a supposedly new world reserve currency, which is, however, considered by official bodies such as the ECB as very risky. Furthermore, the ECB warns of lack of legal protections for investors, since in this case a total loss is possible at any time. Just last Friday the price of Bitcoin fell to almost 1,000 USD. The history so far has shown, however, that Bitcoin always comes back to me and not of the image area is disappeared.
The current development of power courage and hope, must, however, show whether this Pump is of a sustainable nature.
Featured Image: Wit Olszweski | Shutterstock