It’s has been a while that we have heard of the Bitcoin. Since its all high-ranking peek of $1124.76, the Bitcoin value have mainly dropped down in price. However since the begin of June the Bitcoin value have been increased by 10% so far. In this article we are going to look to see if it is time to trade or invest in Bitcoins again.
Bitcoin value can go up this year
There is a good chance that the Bitcoin Value can go up nicely this year. And here is why.
This year 2015 , Bitcoin is getting regulated by the US. In early may 2015 the first Bitcoin Regulated exchange ITBIt. Many US states are legalizing Bitcoins to help the start-up companies that related to Bitcoin in their region.In Europe the EU and the Bank of England are investigating on how to integrate crypto currencies like the Bitcoin can be integrated in the financial system. In Spain and in Switzerland Bitcoins are exempt from VAT taxes, which make the Bitcoin more attractive. (sources : yahoo finance)
- Bitcoin related companies
More and more Bitcoin related start up companies are coming up and many investors are funding them. One these investors is Goldman Sachs. Goldman Sachs invested this year $50 million in a Bitcoin related start up company. Which is surprising to me. I thought all banks were against bitcoins. Goldman Sachs is not the only bank that has invested in a bitcoin company. Big banks all over the world are considering investing in bitcoin companies.
Bitcoin Value on the markets
How is the Bitcoin performing on the markets? The Bitcoin value have been increasing since Febuary 2015. As you can see in the graph below the bitcoin is setting a new higher as it has broken his horizontal resistance level of 11 March 2015. Currently Bitcoin value was 310 dollars when writing this article.
As you may have notice the bitcoin value began to rise in June. There are several reasons of why the bitcoin started to grow in value.
- It’s around that time when many US states were officially legalizing the bitcoin.
- Turmoil in Greece and China caused currency investor to invest in something that can increase in value like gold or bitcoins.
The possible Grexit situation could make big and small companies realize that it might be better to have bitcoin as a spare currency in countries that have financial problems. So that when a bank doesn’t supply money, the companies can still do business.
In short term Bitcoin value will go up, as long there is an uncertainty of Greece. For long-term is starts to look good for the bitcoin value. More and more US states is legalizing regulating on the bitcoin. And many bitcoin related start up companie are coming up all over the world. These companies where investors pour in millions of millions dollar will promote bitcoin heavily to the general consumers. It’s probably smart go for the short term first by trading in bitcoin cfds. Big percentage in price change will come since the bitcoin has broke its resistance level for this year. So your profits will be a lot bigger. And if you are in for the long term then buy bitcoins in portions. Don’t go all in right away.