On 5 November, the price of Bitcoin has reached a new historic high, up to more than $ 7,500. But in the last 24 hours, there has been a slight decrease in the range currently is about 7 us $ 270. This increase is explained by the arrival of new institutional and private investors. NCC has revealed that investors in the japanese and south koreans have decided to launch on the market of crypto-currencies.
Local merchants have registered a considerable increase in the number of Bitcoins exchanged. The CEO of Korbit, Tony Lyu, pointed out that once the users invest in, they encourage others to join them.
A net growth of investors
The demand for Bitcoins continues to increase, particularly in countries such as the United States, South Korea, Japan, or even Europe. This can be explained by the maturation of the market of the Bitcoin and the increase in liquidity. Furthermore, the value of Bitcoin has increased substantially over a relatively short period of time.
In the past 30 days, the price of Bitcoin has jumped from 4 400 $ 7 598 dollars. Therefore there is a rise of close to 3 100 dollars in just one month.
The value of Bitcoin could rise further
By the end of this month, we expect the launch of CME. This may increase the value of the Bitcoin in the coming weeks, despite the range of SegWit2X. It is scheduled for 16 November. Several experts, including the creator of Litecoin, and a former executive of Coinbase, Charlie Lee, have pointed out that the range could influence the price of Bitcoin.
Gerd Altmann, Pixabay
Lee explained that many investors can move their funds from altcoins to bitcoins to get the currency SegWit2x or B2X. If this is the case, Lee is expected that the price of Bitcoin drops significantly.
Source : CryptoCoinsNews