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Why the Bitcoin is making a Comeback

enthusiasts rejoice already and speak from the end of the long, hard crypto-winter. After a brilliant course to rise to almost 20'000 dollars per a Bitcoin by the end of 2017, the value fell until, in November of the following year to less than 4'000 dollars. There he remained until a few weeks ago. Since March, some of the positive messages of the most important digital currency give a new boost this week, the Bitcoin has cracked the mark of 8'000 dollars.

Come to the pros?

in fact, there are some positive developments that give a boost to the Bitcoin price. This is how the great US has announced an asset Manager Fidelity recently that it offers to its customers the trading with crypto-currencies. The entry of a large financial services provider in the world of digital currencies is also an indication for the interest of professional investors, which may join with larger sums of money in the market. The latter is called from different pages as the reason for the price increase of Bitcoin.

But Patrick Heusser, trade expert at the Crypto Broker AG, which is differentiated: "The institutional investors are holding back so far with your commitment." Great progress there, but on the part of financial service providers, "which will come as Fidelity now with solid cryptographic products on the market that are also suitable for institutional investors".

Lucas Betschart, President of the Bitcoin Association Switzerland, and refers also to the fact that, in the meantime, dozens of Swiss financial institutions Bitcoin and other crypto-currencies offer. "The technology is making progress – for investors as well as for users, it is becoming increasingly easier, with crypto-currencies," he adds.

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accepted That with Whole Foods is a subsidiary of the large Internet retailer Amazon now Bitcoin as a means of payment, it is likely to worry some investors also for Confidence. "Some speculate that the entire group could follow sooner or later," says Heusser. Such announcements have a certain importance, since Bitcoin still serves in the first line of the speculation and as a means of payment, it is hardly accepted.

In recent days, the Bitcoin has risen particularly strongly. Experts for market technical reasons. There were many investors who had speculated on a rate of decay of the Bitcoin. Since, however, the rate increased dramatically, it was for these investors, at the end, to expensive, to keep your so-called Short positions.

crypto-currencies have always been extremely volatile. And it will change in the future.

In the past few days, they dissolved with the loss of relatively large volume, such as Stefan Lütolf, trade expert at the crypto-provider of Financial services Bitcoin Suisse, explained. Experts speak in this case of a "Short Squeeze", which increases the demand and thus the price further up.

Although such market-technical reasons strengthened the Bitcoin, believe the experts interviewed that the crypto-spring return. "But the ice saints should not be forgotten," warns at the same time, Patrick Heusser of the Crypto Broker AG. Crypto-currencies have always been extremely volatile. And it will change in the future. Heusser says that short-term Setbacks cannot be ruled out from 1000 to 1500 dollars. In the past individual negative ranged variously messages of crypto-exchanges, missing funds, the price of Bitcoin to crash.

Big price differences

it is Noteworthy, finally, that the Bitcoin has risen since the beginning of the year significantly stronger than the other crypto-currencies. Its share in the Total of all crypto currencies is currently at a High of over 60 percent. Against the Dollar, the Altcoins are: – the rose by any other relevant crypto – currencies such as Ether or Ripple. Compared to the Bitcoin, you have lost significantly in value.

One reason could be that investors wanted to jump up with their Altcoins on the Rally in Bitcoin. Experts believe that it comes sooner or later to a correction in favour of the Altcoins.

(editing Tamedia)

Created: 15.05.2019, at 22:19

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