After the new historical mark of $ 5,800, can the bitcoin continue to rise?

After the new historical mark of $ 5,800, the bitcoin can continue to rise?

In the last month and a half, the so – called ‘golden 2.0 “which operates with light falls on Monday, around 5,600 – $ 5,700,  has been moving in the range of $ 5,000 to drop below $ 3,000 , to return to pick up dramatically until the recent milestone that puts it in a good position to storm the $ 6,000. In the same period, total market capitalization of nearly 1,200 existing criptmonedas,  has exceeded 176,000 million dollars, near its record at 178,000 million dollars .

Among the reasons for this volatility are the various decisions of the Chinese authorities in the regulation on criptodivisas. Since last October 12, when the virtual currency touched $ 5.300,  the bitcoin has received boost from rumors that China might backtrack on the ban on exchange platforms  Cryptography currencies.

The information published recent days suggest that the second world power could resume activity in this burgeoning market. Cryptocoinnews.com a report, citing the company’s state news Xinhua, said that  China will allow trading with digital assets, but with new legal measures . Between this legal corpus could include more stringent regulations and measures against money laundering they will be implemented by the houses of exchange licenses.

According to Jameel Ahmad, an analyst at FXTM , there are other factors at play. ” It is possible that  the recent news that Goldman Sachs is interested in opening a negotiating table with bitcoin  and the current political crisis in Spain, are increasing the demand for traders in this digital currency , ” said the expert.

These rumors restore confidence in a market in which China binded almost half of world trade in these assets. Moreover, the decision of regulators Asian giant could set the pace for other powers such as Russia, which  have also tightened the siege virtual currencies in recent days . Like the Chinese central bank, the Russian monetary supervisor is considering a ban on the exchange. Wednesday, Russian President Vladimir Putin has indicated that it will study the steps taken by other nations to develop a package of measures “to protect investors and prevent money laundering.”

Reason to continue hikes

The question posed operators is whether there is room for further increases in the bitcoin and other criptodivisas . While ominous voices talk bubble again, other experts support the stratospheric trend bitcoin.

From the point of view of technical analysis. Bolsamania analyst Jose Maria Rodriguez , said that ” it is absolutely free rise, no resistance of any kind”. As the first support the adjustment, the analyst ranks “previous highs (4,921 dollars). “And as main support the bullish trend line , now at $ 3,230 approx. When something goes both can not say much more , says Rodriguez.

Kay van-Petersen, a global-macro strategist at Saxo Bank , believes that although there is much noise prices in the short term high volatility compared to traditional asset classes. I still believe that we will come easily to 100,000 dollars in 10 years , ” he insists.

Expert Saxo Bank gives several reasons to justify its vision, including that “in 2013 the Bitcoin multiplied by 55 its value … so, if that were repeated from current levels,  the Bitcoin would exceed $ 300,000 in one year “. In addition, “the market is still exceptionally young and new. The Bitcoin only began to operate and be used from 2009. It’s still a baby learning to crawl , “says Van-Petersen.

This youth explains the analyst that  “the level of penetration and adoption of Bitcoin and other criptodivisas is still marginal . We have barely scratched the surface of the iceberg. ” Finally the expert a strong advocate of technology blockchain confesses. “The Bitcoin and other criptomonedas have the potential to be the great equalizer global payments / transfers and allow a bank to have everything on the phone / wallet , ” adds the analyst. For this reason, it believes that 2,500 million adults in the world have no access to a bank and eventually adopting the bitcoin wing blockchain for their transactions. “

 

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