Become an independent school！ Bitcoin become the new darling of the market
Friday (May 5th), bitcoin prices from historical highs hit overnight decline, now trading at below $1600, last week, bitcoin opened a soaring mode, continue to record high, mainly because the Japanese recognized the nature of money and digital currency bitcoin and the US Securities and Exchange Commission to relax the regulatory bitcoin, at present in the environment, spot gold and oil prices lower than the bitcoin has become an independent school.
The market is expected this year the Fed will raise interest rates further, and European political uncertainty decline.
Start bitcoin was soaring Thursday is a personal independence of conduct, to break the $1600 mark, reached a record high of $1615.94, the market scale is also the first to break through the $40 billion.
The impact on bitcoin soared high, another electronic currency, virtual currency Wright (Litecoin) prices also rose 22% to $25, the highest in more than three years.
RMB denominated bitcoin is topped 9000 yuan, the highest reach 9330.80 yuan.
Overnight bitcoin rose in part because, Japan began to admit that bitcoin is the legal currency of payment. According to foreign media reports, Japan’s currency is expected to be with the more than 10 encryption industry seeking to enter the market to the new exchange platform, namely the transaction bitcoin and other virtual currencies, and exponential development.
The Japanese government to cancel the bitcoin consumption tax, coupled with awareness of Japanese investors bitcoin improve the legitimacy, the yen traded bitcoin transactions began active.
According to foreign media reports, Japan’s currency is expected to be with the more than 10 encryption industry seeking to enter the market of new exchange (trading platform bitcoin and other virtual currencies) and exponential development.
According to CoinDesk statistics, in May 1st the trading, the yen trading accounted for 52%, more than half, significantly more than $(28%) and (8% yuan).
In addition, investors are optimistic about the U.S. regulators bitcoin prospects also contributed to the release of the ETF bitcoin recently higher.
The US Securities and Exchange Commission (SEC) a Winklevoss twin brothers launched bitcoin ETF application, will make a decision in this month 15 days ago, also boosted the bitcoin trend.
Although the March SEC had rejected two bitcoin ETF application, reasons for price manipulation and regulatory concerns. But once the bitcoin ETF announcement listed, will attract at least $300 million in funds, analysts believe that, ETF will expand the ordinary investors bitcoin interest, but do not have to sell real bitcoin.
At the same time, New York recently got third BitLicense bitcoin license Coinbase wallet officially supported Wright currency trading news, also let investors excited.
The United States professional survey company ARK investment analyst pointed out that, as of last summer, bitcoin’s annual output has halved the supply side contraction also is one of causes that cause currency price rise.