Before 24 hours the Bitcoin cryptocurrency was trading under $ 3.700. Today he outperformed 4.000 dollars by recording a new record and without showing signs of stopping his frantic course.
About 12: 00 at noon, Greece time, at Bitcoin reached 4.215 dollars and at the time this article is being traded negotiates at 4.024,32. And all this, bearing in mind that Bitcoin was spending the 3.000 dollar limit a week ago. For those who are interested in following the course you can see in this Link a graph of its price for the last 24 hours.
But let's look at some possible causes for this rise. Remember that two weeks ago Bitcoin went through the "hard fork" process and came out essentially untouched. There was then a currency split and one was created bitcoin-clone called Bitcoin Cash, but so far it has not received much attention from what was expected. A few days later Bitcоin was locked in SegWit, an amendment (or if you want to upgrade) a code that fixes plasticity issues and free up space in the block, allowing more transactions to be stored.
Another reason may be ICO frenzy. Just last week, Filecoin rose $ 180 million in just a few hours. Most investors have to convert fiat currency into bitcoin or other cryptocurrencies to join the ICO, which could lead to a price increase (and give investors the first taste of bitcoin).
Another reason is Wall Street's new obsession with BitCoin. You can not watch CNBC for five minutes without seeing a businessman or an analyst telling their opinion by betting bitcoin that "it's going to be the best investment of all time."
What will happen next? Nobody knows. BitCoin could crash tomorrow at 50%, that is $ 2,000 or climb to $ 5.000. Besides, nobody really knows what can happen in an international market. Each user has a different view, some say it is a big bubble and should have been bursting months before, and others believe that Bitcoin has only shown a fraction of what he could eventually achieve.
Whichever camp you belong to, listen to a friendly reminder: Do not invest more than you can afford and lose, because if you ask whoever has spent a few months in the world of cryptocurrency will tell you Bitcоin is a roller coaster that goes upstairs.
Dimitris hates Mondays...
