24 Jun
0
Bitcoin price rise again thanks to the Brexit
After reaching a low of $550 during the week, the bitcoin price rose again reaching a high of $650 today.
Although it was normal to see a correction after the fast climb of the previous weeks, the bitcoin price probably fell also because of the “Bremain”, or the possibility of UK to remain into the EU.
This volatility has a main reason: Brexit and Bremain.
When it seemed that England would remain in the European Union the bitcoin price fell immediately.
Conversely, now with the official news of the Brexit, the Bitcoin price is finally starting to rise again.
Brexit and Bitcoin price rise
Yesterday England had to vote for a referendum in which voters had to decide if their country should remain (Bremain) or leave (Brexit) the EU.
When the official news of 54.4% votes for the Brexit arrived, the Bitcoin price increased from $560 to $655.
This phenomenon is probably due to the fear led by the volatility in the fiat currency and traditional markets.
5 reasons why Bitcoin price rise
Few days ago we talked about the causes of the Bitcoin price rise.
Among these we quoted the Brexit, and in fact it seems to be confirmed by the market movements.
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23 Jun
0
Bitcoin Price Drops because of the Bremain
Bremain and Bitcoin
Today Bitcoin price drops of about $100, falling to peak of 15% by reaching the value of $551 according to Bitstamp.
In the recent weeks we talked about the 5 reasons of the Bitcoin price was rising so fast. In the list we quoted the “Brexit” as a possible reason.
In fact, the uncertainty caused by this move could be a foundamental reason for the Bitcoin growth.
Bitcoin price Drops
This Bitcoin fall is a continuation of the recent correction – probably due to the previous too fast growth, as explained George Sammam – that began on June 18th, when the price hit $774.
A possible reason for this Bitcoin decline is the “Bremain”, or the possibility of the UK to remain in the European Union.
In fact, experts suggested that maybe the bitcoin price is falling down because of the increasing possibility that UK will vote to remain in the EU.
Tim Enneking of Crypto Currency Fund; investor Vinny Linghan and Arthur Hayes, co-founder of BitMEX, all quoted the ‘Brexit’ vote as a possible reason for this drop:
“The drop below $600 indicates that many traders believe that ‘Bremain’ will prevail. The vote is still too close to call with various polls indicating ‘Brexit’ and ‘Bremain’ in a dead heat.”
So, will the Bitcoin price continue to fall or it will remain stable? Stay tuned for next updates.
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16 Jun
0
Bitcoin Rise: will it continue in the future days?
Bitcoin Rise: will it keep growing?
It is not a news that the Bitcoin rise very fast during the last few weeks, reaching a high of $735 today.
But the real question everybody is asking is: will Bitcoin keep growing?
After a two years high, on Wednesday the bitcoin price fell, but it was only temporary and now the price is rising again.
As we tried to explain, there are a few reasons why Bitcoin is increasing its value: at least 5 reasons that you can read here.
Volatility?
Bitcoin price dropped 8% to $661.60 on June 14th, after hitting $719.85 the day before.
But during the same day it reached $691.70 and since then it keeps growing.
So, even if the price fell, this event cannot be considered a great volatility problem. Also, several experts explained that such instability is unavoidable.
“It is important for traders to understand that markets are always following cycles,” comments Joe Lee of Magnr, “Regardless of the asset type, if a price increases too quickly, the safe assumption is that a correction will occur in the short term.”
Halving and Brexit: will the bitcoin price keep growing?
Other experts in the bitcoin sector sustain that two of the most important reasons for the digital currency higher price are the miners rewards halving and the “Brexit”, or the possibility that the UK leaves the EU.
Experts explained that the halving has a key role in the growth of demand because it reduces the reward for each new block mined by 50%.
Rik Willard of Agentic Group LLC, is convinced that bitcoin price will move around $685 until the halving occurs.
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