What happens next with the bitcoin course
The bitcoin course, the most popular cryptographic currency, has risen sharply in recent days. In fact, it has once again approached its own peak values at the end of 2017, the time of the most popular cryptovalues as a phenomenon.
The growth of bitcoin course is a consequence of the positive developments on the world markets that started after the presidential elections in the USA.
According to coindesk.com portal, on November 6th the rate of bitcoin reached almost 16 thousand dollars, by November 8th its rate slightly subsided, but still exceeded 15 thousand dollars. At the peak of its value three years ago, Bitcoin reached almost 20 thousand dollars.
In recent weeks, the bitcoin course rate, in addition to a general wave of positive market conditions amid the U.S. presidential election, has been pushed by a variety of factors: the reduction of the Mining Award in May, which reduced “production” and became a fundamental driver for the price. Recent late factors include overcoming psychological resistance, with highs of July 2019 and August 2020 reaching $12,500.Later, PayPal said it was opening up the possibility for customers to buy bitcoins and a number of other cryptovalues, which gave easy access to the most popular cryptovalues for millions of users.
It is not excluded that Bitcoin may be at the foot of a large rally, which could potentially lead to a price of $40,000, inflating another bubble in the coming weeks and months. However, it should be understood that it is difficult to give accurate forecasts for Bitcoin, because its price is only a derivative of customer demand, as it is not followed by any financial indicators, as in the case of companies, or the central bank, as in the case of traditional currencies.
Partially, the revival of Bitcoin quotes should be associated with the uncertainty that traditional currencies will not sharply lose purchasing power in the coming months due to ultra-soft monetary policy.Later, PayPal said it was opening up the possibility for its customers to buy bitcoins and a number of other cryptovalues, which gave easy access to the most popular cryptovalues for tens of millions of users.
It is not excluded that Bitcoin may be at the foot of a large rally, which could potentially lead to a price of $40,000, inflating another bubble in the coming weeks and months. However, it should be understood that it is difficult to give accurate forecasts for Bitcoin, because its price is only a derivative of customer demand, as it is not followed by any financial indicators, as in the case of companies, or the central bank, as in the case of traditional currencies.
Partially, the revival of Bitcoin quotes should be associated with the uncertainty that traditional currencies will not sharply lose its purchasing power in the coming months due to ultra-soft monetary policy. “But investors should remember that bitcoin is not a protective asset. Bitcoin is not a protective asset. “It loses its price dramatically in the event of a collapse of the world markets.
