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The Bitcoin madness starts again

2019-04-03 | 日記

The course party at the crypto market continues. After the bitcoin price shot up about 20 percent on Tuesday morning, the price consolidated at the level to make another leap tonight. In the meantime, the price was already over 5,000 US dollars.

Cryptocurrency traders may not know what caused the abrupt surge in Bitcoin on Tuesday, but they’re going along for the ride anyway https://t.co/1Vwub3RrCQ pic.twitter.com/BcDXM7sf2g
— Bloomberg Crypto (@crypto) 3. April 2019

Compared to CNBC Brian Kelly called the next target price of $ 6,000. This scenario is not unlikely, with the $ 200,000 200-day line on the way to the $ 6,000 massive resistance zone the only hurdle.

The reasons for the sudden increase can only be speculated on. Brian Kelly sees the growing interest of institutional investors as a possible trigger: "Even wealthy individuals and family offices are starting to get seriously involved." There are a few big brokerage companies that bring custodial solutions to the market, and it's a lot below the surface."

The foundation has changed
The Bitcoin broke through the $ 5,000 mark for the first time on October 12, 2017. This was the start of a fabulous rally of up to $ 20,000. However, it is unlikely that Bitcoin will make such an increase again. The numerous speculators who flocked to the market at the time are still skeptical.

Bitcoin first hit $5,000 USD on Oct 12, 2017
Now that Bitcoin is back at $5,000, what has changed? pic.twitter.com/hbOB7askSi
— Kevin Rooke (@kerooke) 3. April 2019

But this does not have to be a bad sign, on the contrary. The fundamental values of Bitcoin have improved significantly since then. In addition to lower transaction costs, which are partly due to the successful launch of the Lightning network, the hash power (cumulative computing power of the network) has risen sharply.

THE SHAREHOLDER remains general in his long-term positive attitude towards bitcoin and cryptocurrencies. In the short term, the bitcoin price to the resistance zone at 6,000 US dollars still has air.

As an alternative to buying directly on a crypto exchange, investors can also opt for Vontobel's open-end certificate with the WKN VL3TBC. This reflects the price performance of Bitcoin 1: 1 and has a subscription ratio of 0.1. The management fee amounts to 1.5 percent p.a.

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