The value of this cryptomonnaie has exceeded Sunday, January 1, the symbolic milestone of 1000′s of dollars, achievement for the last time three years ago.
The bitcoin goes through a symbolic mark. The cryptomonnaie has seen its course to climb above the $ 1000 on the 1st of January and now continues on its own momentum. Its value is around 1020 usd according to CoindeskC KOI in this Tuesday, 3 January. It took three years before the bitcoin does not come to this record level. In November 2013, its value had temporarily exceeded the $ 1,000. The collapse of the largest exchange platform of the time, Mt.Gox, was shortly after precipitated his fall.
bitcoin allows you to make movements of funds are secure, anonymous and fast around the world. For more transparency, validation is ensured by all actors of the same chain, and not by a single central authority. The currency responds to the needs of users sceptical vis-à-vis central banks and governments, and their control over the course of the currency.
A safe-haven
Number of purchases that have fueled the rise of bitcoin has been made from countries in search of safe havens. Among them, the China, the real countries of the adoption of this currency, which has seen the end of 2016, a depreciation of its national currency by more than 7%, or even India. At the beginning of November, the indian government has ordered the withdrawal from circulation of larger denominations, on the grounds that they were fuelling corruption. The announcement was followed by a sharp rise in the demand of bitcoins, contributing to the increase of their value, reports CNBC. Even more interesting, the success of the virtual currency became a reality at the expense of a safe haven by excellence: the gold.
“every episode of the strong economic risks, the bitcoin grows in value. She plays the role of a safe haven, especially from emerging countries,” says Christopher Dembik, head of macroeconomic research for Saxo Bank. “India has embarked on a process of démonétisation of its currency in favour of Bitcoin. Similarly, Venezuela, which displays the inflation the highest in the world, people have more and more use of Bitcoin,” adds the economist.
inflation in Venezuela, dizzying, around 2016 the 475%, after the announcement by the government of the withdrawal of coupues of 100 bolivars, the most important. The nationals of the country in a severe economic crisis, and humanitarian, are gradually turned towards the bitcoin for cash. Coinizy, a French service and online payment, has seen its enrolment jump from Venezuela on the end of the year. The currency is likely to become popular, as long as the economic uncertainty will reign. 40,000 bolivars in mid-2014, the value of bitcoin fell to 2 million of bolivars by the end of 2016, according to Surbitcoin.com.
in The same way as gold, the virtual currency has also appreciated in value after the election of Donald Trump, from 708 to 738 dollars in few hours of announcement of the results. The vulnerability envisaged for the financial markets in the event of the election of the real estate magnate, as well as the fear of investors see the Fed funds rate strong growth had been correlated with this increase.
“The bitcoin can be compared to a digital gold, and reacts in the same way that this raw material” in case of uncertainty in the markets, had then explained Charles Hayster, the founder of Crypto Compares, to CNBC.
A promising technology
“one of The biggest problems of Bitcoin is that it lacks transparency, nobody knows who owns what and manipulation are possible. In addition, the increase is not based on any economic fundamentals,” emphasizes Christopher Dembik. “However, from a technological point of view, this currency is an interesting tool. Thus, the recent increase will attract new players and stimulate research around the future of the monetary system”.
in addition, in three years, the bitcoin has gained legitimacy. The Bitcoin network, on which depends the currency, develops gradually of payment systems, efficient and secure. The banks and big players of the industry are inspired by this process to ensure the security of their transactions, and move towards a more transparent model. It also raises, and for several months already, the greed of Wall Street.
An ETF, namely a fund that replicates the value of the index, only based on Bitcoin has been proposed three years ago by the brothers Winklevoss, who sued Mark Zuckerberg in court for stealing their idea of a social network. The twins have added several amendments to this project mid-October. The SEC, the u.s. federal agency of regulation and supervision of financial markets, is expected to rule on the feasibility of this project at the end of January.
The bitcoin invites also in physical infrastructure. Since November, the swiss railways offer, for example, the ability to buy bitcoins from their 1000 atms. The maximum value of the transaction is set at 500 swiss francs, or a little more than 460 euros.
These next few months, the price of the currency could continue to climb. Some analysts, including Vinny Lingham, consider a bitcoin to $ 3000 to 2018.
No comments:
Post a Comment