The hope of many Bitcoin fans on a more steady price development has been initially not conserved. After the crawpted food brought after market volumes on Tuesday morning again a record high, she broke in the afternoon. In the morning, it looked at first as if the crypto money was the first time the brand of 20.000 US dollars.
With 19.918 US dollars has been listed on the trading platform bitstamp in the meantime a record high. At the early afternoon, the course dazzed at times up to 18.100 US dollars. Only on Monday the crypto food at various trade spatials could skip record marks from 2017.
Back and forth
Under optimists, this hopes had aroused, the price increase was this time more sustainable than during the wild record hunt about three years ago. At that time, a dramatic price decline was followed on the dramatic price increase. Currently, the Coinmarketcap platform records an average price of 19.300 US dollars. The 20.000 US dollars remain tangible.
Overall, the bitcoin was able to gain strong value in recent weeks. Since the beginning of October alone, his value has almost doubled. Last week, there was a start on the 20.000er brand – with violent turnover: On Thursday, the courses fell well up to 16.600 US dollars. After that, however, again recovery again.
Value memory of the rich?
In addition to the entry of the payment service PayPal, which initially measures US customers crypto money trade and soon also payments, the most important interest of the professional investors is usually seen as an essential driver of the current price. A few months ago, for example, the rough wealth administrator Fidelity had launched a Bitcoin Fund – and recommends investors to park one to funf percent in Krypto money. The hedge fund billionar Paul Tudor Jones Dieu’s liked already in May, to have parked almost two percent of his wealthy in crypto money.
According to the Handelsblatt, a third of a third of all institutional investors in Europe and the United States Kryptovahrungen in the portfolio, including pension funds, providers of private enhanced, investment advisors and hedge funds. Some analyst argues that the professionals bought with long-term interest, which is why this price rally was different than that three years ago. The well-known economic historian Niall Ferguson already described the Bitcoin in a Bloomberg opinion article as a value store of the rich.
At the drip of the tether
Nevertheless, this value store is still over-fluctuating, so for small investors probably the category: highly risky. Also, at a factor that a significant part of the bitcoin trade with the crypto food tether is riding little. This value-token launched by the makers of the Borse Bisfinex, is supposed to be allegedly covered by one by US dollars – BitFinex never occupied but never. Many borsse use it as a dollar replacement, some observers see it as a tool for crops inflated courses. Fraud forwards have already been loud several times.
A look at traded bangs that captures Coinmarketcap shows that last 58 percent of bitcoin trade has been handled with tether. Since the beginning of January, the money amount of Tether has almost spread. In November alone, market capitalization of around 16 billion grew up to $ 19 billion, as the tether boss and BitFinex-CTO Paolo Ardoino via Twitter explained.