In the financial markets, the rule applies - "the talk is cheap". This was fully demonstrated by bitcoin's reaction to the latest comments that the cryptocurrency is a bubble, made by another central banker - ECB vice president Vitor Constantza.The digital currency rose at the beginning of the week, adding more than 7% to its value, to a level of $3,928. Now all the investors' glances are focused on whether the bitcoin will have the strength to return to the psychological limit of $4,000.
In the event that the latter happens, it is completely possible to witness its further appreciation and peak test at a level of $5,000.
The mid-September reports that Chinese regulators will close the country's crypto-exchanges have initiated massive sell-outs of cryptocurrencies that have reduced over $1,000 in the cost of a bitcoin.
The bitcoin fell to a level of less than $3,000 momentarily at the end of last week, or dropped below the psychological limit for the first time in more than a month.
As many market watchers expected, however, news related to China had no lasting effect. As Josh Olswitz, a bitcoin trader, believes that China's decision will be overcomed because it is not related to the future of blockchain technology.
Since the beginning of the year, the bitcoin has risen by 429%, with many investors believing that the best times for cryptocurrency are yet to come.
No comments:
Post a Comment