The Bitcoin has been accelerating its price rally since the beginning of the year. After it had risen over 9,000 dollars at the beginning of the week, on Friday afternoon it quoted around 2.5 percent higher at 9,771 dollars (8,646 euros). Soon it could break through the 10,000 dollar mark.
160 percent higher
Many people want to buy BTC anonymous, find crypto trading sites without KYC here. Already since January it goes for the crypto currency uphill. It is currently quoted almost 160 percent higher than at the beginning of this year. Recently it went however particularly fast highly: Since Thursday noon the Bitcoin increased by 5,5 per cent. The crypto currency Ethereum even increased by six percent by noon on Friday alone. Anonymity is one of the key arguments using BTC, for example to use them in bitcoin casinos – see revistaiberica.com.
Some experts now expect the rally to strengthen itself. Thomas Lee, co-founder of the asset manager Fundstrat Global Advisors, writes on Twitter that once the $10,000 mark has been reached, investors may increasingly fear missing opportunities for returns. The phenomenon is called “Fear of missing out” (Fomo) in stock market jargon and can lead to rising prices because then more people will invest in a certain asset class – in this case Bitcoin.
- Bitcoin lawyer Andreas M. Antonopoulos is already aware of such fear among investors.
- In a tweet he warns “newcomers” not to fall for fraudsters and writes that profit promises and orders to recruit others are “100 percent snowball systems”.
The new rise in the price of crypto currencies was preceded by an announcement from Facebook that it intended to introduce its own crypto currency, Libra, next year. The currency is to be hedged with various currencies such as the dollar, euro and yen in order to avoid exchange rate fluctuations.
Meanwhile, critical voices regarding crypto currencies are once again coming to the fore. Bundesbank President Jens Weidmann, for example, warned on Friday against the risks of crypto currencies, even if they promise price stability. At a specialist conference in Eltville, he said with regard to the so-called “stablecoins”: “They could undermine the deposit business of banks and their business models”. Ultimately, a form of global regulation is needed.