Bitcoin share price increases strongly in price and can record price gains. The picture shows a price curve and stacked Bitcoins.
The Bitcoin price is currently extremely strong. That does not only pull up BTC itself, but also many Altcoins, which had to fight strongly with falling prices in the last weeks. Currently, the One Bitcoin a Day price is around 11,500 USD, a level that we last fell below at the beginning of September. At that time the BTC price reached up to USD 12,000 and failed several times due to the existing resistance.
Bitcoin price reacts to bullish news
The last weeks were rather bearish. Most people assumed that the Bitcoin price would fall below the magical $10,000 mark because the $11,000 mark could not be broken on several occasions.
But the bullish news of the last few days has given Bitcoin an extreme tailwind and brought the BTC price above the $11,000 mark for the time being. This was mainly due to Square, the second listed company that is now invested in BItcoin.
The SEO of Square is none other than Jack Dorsey, CEO of Twitter. He has long been known to be a true Bitcoin advocate. So it was only a matter of time before one of his companies in BTC diversified its portfolio. Nevertheless, the news on Thursday came as a surprise to many and has built up a tremendous momentum.
In 2017, the Bitcoin share price would have exploded
Admittedly, the market is not as susceptible to news as it was 3 years ago, but it has responded immediately to the news with a Bitcoin price increase. But regardless of the current BTC price increase, the news is much more far-reaching than one might think at first.
The first listed companies are now invested in Bitcoin. These include MicroStrategy with an investment of approximately $450 million and now Square with $50 million. When you think back 3 years at this point, it was hard to imagine and would probably have resulted in a price that was beyond good and evil at that time.
Bitcoin as an up-and-coming alternative
The Bitcoin course shows up-to-date only, which tendency in the crypto market and in the traditional market prevails, but one forgets the long-term development here. BTC has become an established financial product. More and more institutional investors are looking for a way out of the current uncertainties in the traditional market.
Every sector seems to be in a bubble. Everywhere there is a high risk. Therefore it is no wonder that Bitcoin is becoming more and more interesting for investors. Many have begun to realize what makes BTC so valuable – real digital scarcity.
If the politics in the USA continue like this and the market continues to be flooded with cheap credit, we are threatened with a serious crisis. It will hit the US dollar in particular, and thus almost every other national currency as well.
BTC as last resort
The subsequent inflation, i.e. the loss of purchasing power, will lead to a severe crisis, where millions of people will lose their jobs and the economy will come to a standstill for the time being. In such times people flee into physical gold to save their money and assets.
Bitcoin, as a digital gold substitute, could also get a piece of the pie. While BTC is far from reaching the status of gold, people are beginning to understand that Bitcoin is different than anything we have seen before.
As confidence in states and governments continues to decline, decentralized alternatives to preserve its values are becoming more and more popular. It is only a matter of time before Bitcoin receives the recognition and trust it deserves.
Whether you are a private investor, hedge fund, family office or company, not knowing about Bitcoin and crypto currency can be a mistake and a missed opportunity.
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Bitcoin Course Explosion – just a matter of time
Until then, we can continue to enjoy a highly volatile Bitcoin price, which is currently trending upwards and hopefully will soon exceed the USD 12,000 mark. If we can break through the USD 13,800 mark this year, FOMO (Fear Of Missing Out) will undoubtedly emerge.