Let’s have a little history lesson of Bitcoin. For the first time BTC broke the barrier of 10 thousand dollars at the end of 2017. While the investors of the asset for the most part were the retail consumers who are afraid to miss the opportunity to earn. They day in and day poured money into cryptoprotection. It was rumored that some even took out loans to be able to try your luck with a new unknown asset class.
Moreover, the word “cryptocurrency” and “blockchain” was on all the monitors and screens of smartphones. About Bitcoin constantly broadcast media-type CNBC, Bloomberg and CNN, a leading cryptocaryon and blogs recorded a record attendance. But then all collapsed, leaving market participants with nothing. Many people immediately began to trumpet the collapse of the first cryptocurrencies. Bitcoin stopped to discuss lunch and dinner, although this of him was said on TV.
Now, after 18 months of protracted cryptogamy, Bitcoin recovers position. Some analysts have already marked bullrun from 3122 to 11 000 dollars, “run suckers” and claimed that no retail investor will not pay 10 thousand dollars for a few lines of code and is completely unpredictable point.
And really, if you follow the statistics of Google Trends, the number of queries of the type “Buy Bitcoin” is now no more than 10 percent from what was observed at the end of 2017.
10 thousand dollars is a fair price
For most industry representatives, the price of 10 thousand dollars is normal. At that price, the market capitalization of Bitcoin up to 2 percent of the total amount of gold reserves in the world.
For example, as noted Rhythm Trader, compared with 2017 now interested in Bitcoin more institucionales.
Now with this niche started working for several representatives of wall street, including Fidelity Investments and BNY Mellon. Fidelity has launched its own custodial services and are actively testing the marketplace. BNY Mellon has teamed up with Bakkt that launches the world’s first marketplace for trading futures with physical delivery the calculation in BTC. Moreover, two major U.S. retail brokerage TD Ameritrade and E*Trade announced plans to start spot trading Bitcoin in the near future. These platforms could open the door to cryptoprotection for millions of Americans.
Unlike 2016 or even 2017, there are already large corporations who accept the digital currency for a number of services: AT&T, Nordstrom, Amazon’s Whole Foods, Microsoft and many others. In other words, the viability of Bitcoin as a medium of exchange continues to grow.
During the conference Consensus Microsoft presented a decentralized solution for the identification of DID, by which consumers can gain more control over your own data and online profile. And the point here is not that the decision will be based on the blockchain, and the focus at Microsoft is on the blockchain of Bitcoin. This is one of the first times that Bitcoin is used in a non-monetary purposes. And the highlight is that the project Manager is a technology company with a market capitalization of over a trillion dollars.
Of course, today, any text will not do without mentioning Facebook, which, in cooperation with renowned partners, including Uber, Spotify, Visa, PayPal, Booking Holdings, — starts its own stablon Libra. While cynics cautiously look at the draft, the analysts come to the conclusion that this has a positive impact on the adoption of Bitcoin.
The last time Bitcoin broke $10,000:
Fidelity wasn’t storing it.
AT&T wasn’t accepting it.
Congress wasn’t fighting it.
Bakkt wasn’t launching with it.
Microsoft wasn’t building on it.
TD Ameritrade wasn’t trading it.
Facebook wasn’t competing with it.
— Rhythm (@Rhythmtrader) June 22, 2019
If Housewives and Amateurs managed to shake the largest cryptocurrency to 20 thousand dollars, I can only imagine that the price of Bitcoin can make keen interest wealthy institutional investors. And while the rate of BTC is OK — he no longer pulls on the “bubble”, as it was two years ago.
In our cryptodata of hontarov you will find lots of other useful information.
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