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Bitcoin increased to $ 8,000

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Bitcoin increased to $ 8,000
May 14
13:00 2019

Bitcoin shows a dramatic increase. Now its rate has risen above 8 thousand US dollars. This has not happened since last July. A strong recovery is particularly stands out against the background of problems that have emerged on traditional markets where now everything is around the situation between the US and China.

Recently, the cryptocurrency rate has jumped by 25%. The last time such a sharp increase was observed in 2014. Bitcoin continues to grow. Currently, one bitcoin is estimated at $ 8,104.

Last week, the cost of the main cryptocurrency was equal to 6 thousand US dollars. This is despite the fact that the minimum price this year was equal to 3.5 thousand US dollars.

According to experts, the cryptocurrency has grown due to the increased interest on the part of the institutional investors.

This month we have known that Facebook is going to introduce a payment system in its social network that will work on cryptocurrency principles. In addition, the company says that there won’t be such strict restrictions (which were imposed last year) on advertising that has links to cryptocurrencies.

The news that could also boost BTC is the statement by Bakkt, the ICE operator, that it will test bitcoin futures this summer.

Darren Lee, one of the largest Chinese investors in the cryptocurrency market, believes that the growing interest in bitcoins in his country could be triggered by a fall of the national currency. Surely, the currency drop occurred against the background of the escalating conflict with America.

The growth of the main cryptocurrency in May has amounted to 50%. May can become the most productive month for Bitcoin, since November 17. Despite this positive fact, at the moment Bitcoin quotes are still very far from the highs reached in December 2017, when the currency was worth 20 thousand US dollars.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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