london (reuters) – the bitcoin has passed, the threshold of $5000 for the first time since its inception, in excess of 8% compared to the previous day, and with an increase of over 500% since the beginning of the year, despite the recent warnings about the risks associated with the rise of the known cryptomonnaies.
bitcoin, introduced there was less than nine years, remains highly volatile and illiquid compared to large currency and other financial assets, and the reasons for this increase are not clear.
the growing demand for the subject on the part of investors who want to take the train to the increase in work may be the main explanation for this new period.
“people just want to be sure,” said ryan was responsible for the trading and marketing strategy on the currencies of swissquote, is engaged in the trading of bitcoin, a couple of months ago. he said that the interests of investors has been stronger than expected, and from both banks, hedge funds and traders.
“the interest is real hype.”
russian president vladimir putin warned wednesday against the “dangers” associated with this emerging market, and the central bank of russia said it would ban the websites of cryptomonnaies trading, which has not prevented the bitcoin won about 10%.
a study published last week by semrush, a firm specializing in the analysis of applications in search engine, there was a correlation between the motions of 91% on the bitcoin on google and the evolution of the price of the cryptomonnaie, suggesting that both good and bad news, the demand on fuel even if the bad news may temporarily affect the course.
bitcoin has addressed the $5000 in early september before falling heavily on statements of the boss jamie dimon of jp morgan, as the cryptomonnaie “fraud” that was blown up. the chinese authorities have also closed several trading platforms and funding restrictions in bitcoin raising broader.
after falling below the threshold of $3000, bitcoin has rebounded to win more than 75% in four weeks.
according to news reports published at the beginning of this month, goldman sachs will explore the possibility of trading activity on the bitcoin.
the bitcoin is designed to work outside of the influence of governments and central banks, and this is exactly what is happening, “said iqbal gandham, director general of the etoro trading on mobile phone application, which has experienced a significant growth in the volume of trade in cryptomonnaies.
at 15:00 gmt, the bitcoin was increased by nearly 8%, compared with the $is 5.202,13) bitstamp trading platform.
despite numerous warnings on the formation of a bubble in the bitcoin, including the vice president of the european central bank, vitor constancio, supporters of a continuation of this trend is not, as it is difficult to determine the value.
for most currencies, there are a number of methodologies to estimate the relative value, typically based on economic fundamentals, “notes daniel murray, head of research at ‘asset management.” as for bitcoin, basic does not exist. “
other cryptomonnaies, whose activities are closely related to that of bitcoin, were also fitted. the total value exceeded 100 billion for the first time since the beginning of the month of september, according to the specialized website coinmarketcap.com.
(with jamie mcgeever, marc fought for the french service, edited by juliet rouillon.
copyright & copy;, thomson reuters
Translated by forexguides.info Team