The Bitcoin shows this Friday a record price, after having crossed the bar of $ 5,000 yesterday. After the fall of the price of bitcoin last month, the value of the bitcoin has experienced a rise of 7.4 % up to 5 846 dollars. At the beginning of the month of September, the price of bitcoin was $ 5 000, before passing under the bar of $ 3,000, following the ban of China.
In fact, the chinese central bank said in September that the ICO are illegal practices. The chinese government has also prohibited the collection of funds involving digital currency. The value of bitcoin subsequently dropped.
An increase in spite of the comments of Jamie Dimon
The market of Bitcoin is very volatile. It is therefore normal that the financial experts may have concerns about the future of this digital currency. The evolution of this sector is based on speculation. Moreover, when China declared the ban of the ICO, the value of bitcoin has dropped.
The CEO of JPMorgan, Jamie Dimon has called the Bitcoin of fraud. Fortunately, this had no impact on the price of this virtual currency.
An increase of more than 424 % since the beginning of the year
The price of bitcoin has registered an increase of more than 424 % since the beginning of the year. This increase shows that the crypto-currency is a secure investment, contrary to received ideas. According to Mike Novogratz, the former fund manager of a large group, the price of bitcoin would reach heights up to more than 10 000 dollars in the coming months.
The market of crypto-currencies are anything but stable. Yet, there are no means to predict its evolution in the future. However, as this sector is a bubble or not, there is no doubt that it disrupts the financial market.
Source : FinancialTimes