Bitcoin is growing again. But why?

Now it has become a good tradition to write about new records of the Bitcoin rate against the dollar. Last Thursday, the value of Bitcoin at the auction reached $ 7,300. In just two years, the rate has grown more than 10 times, and the further, the stronger the growth dynamics. And by no means always the reasons for such a sharp appreciation are due to ordinary hyip. Now more and more factors affecting the cost of Bitcoin are coming into the picture.

One of these factors (it can be called global) is the emergence of Bitcoin as an official means of payment. An increasing number of financial organizations are beginning to work with cryptomonet. Recognize the "cue" in some countries. In addition, several new factors influenced the new appreciation, which manifested themselves both in this and in the past months.

There are four such factors in total (however, it is possible to single out more, but we will dwell on four).

The first is that the world's largest futures exchange CME Group announced plans to launch cryptocurrency derivatives by the end of this year (and we remember that there was nothing left). The fact is that more and more clients began to express interest in cryptocurrency. Therefore, the management of the exchange decided to meet them and introduce bitcoin futures. For players of the crypto market, this may be another proof that cryptocurrency is becoming the official tool of the work of classical investors. It can be expected that with the approach of the end of 2017, the rate of Bitcoin will grow, fueled by the desire of investors to finally have at their disposal new futures.

The second is the rumors that China will soon decide to remove restrictions from the cryptocurrency market. In the wake of the previous actions of the government of China a few months ago, the course of Bitcoin and a number of Altcoins fell, although it quickly returned to its previous positions. If the rumors that China will give the crypto torch freedom will be true, the growth rate may accelerate even more. It may well be that this will be the case, since it is unprofitable for the Chinese government to slow down the economic growth of its country, where cryptocurrency is one of the factors behind this growth.

By the way, some analysts believe that cryptocurrency has become one of the tools in the "currency war" between China and the United States. In particular, Chinese finance specialist Xiao Lei argues that it was then when the two largest Chinese stock exchanges stopped trading in cryptocurrencies, the previously mentioned Chicago-based exchange CME Group announced the start of Bitcoin trading. Maybe this was done in order to weaken the influence of China on the cryptocurrency market, although building speculations of this kind is already akin to conspiracy.

The third is that bitcoin is now considered a “quiet financial haven”, both for citizens of countries whose fiat currencies are falling in price, and for cryptoinvestors who have been disappointed in all these numerous altcoins, many of which are falling, without having time to rise. More and more market participants are trying to make money on Bitcoin, financial flows are multiplying, the course is growing.

The fourth is the upcoming hardfork bitcoin SegWit2x . It should occur on November 15, and many are trying to calculate the consequences of this event. Most likely, investors will take profits before the fork, not wanting to risk in vain. After all, who does not want to double the capital, investing $ 3000-4000 a couple of months ago?

Everything that is happening now on the market is in the hands of numerous cryptobirds, funds whose assets are now invested in Bitcoin, private holders and other players. In the negative there are those companies that have conducted ICO and have now entered cryptobirds. Their tokens are declining in price relative to BTC, which means that the capitalization of companies is decreasing.

So far, the main event on the horizon is hardfork bitokina. It will affect the further development of the crypto market. By the way, are you ready for hard forks?


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