Bitcoin will hit 12,000 today
Bitcoin price climbs back above $ 12,000
The digital currency Bitcoin has recovered in the past few days: The price was around $ 12,400 on the afternoon of July 9, well above the $ 12,000 mark. According to CoinMarketCap, the market capitalization was a good $ 220 billion. The daily high of the BTC price was around $ 12,800.
+++ Comment: "Bitcoin - The FOMO is back" +++
This value is of course still far below the price of December 2017, when the BTC rate reached its highest value for the time being at around 20,000 dollars. And there is still a little air left over the previous high of 2019: At the end of June, the crypto currency was valued at around $ 13,000, after which the price went down again. Nevertheless, the current course of the price raises the question of how things will go on with the most popular coin of speculators.
Several factors influence the Bitcoin course
There are several factors that currently influence the BTC rate. In June, for example, it was the announced introduction of Facebook's own “global currency” called Libra that fired the imagination of investors. In addition, given the ailing stock exchanges, investors were looking for alternatives to stocks - including gold, or bitcoin.
At the end of June, as now, it is also the so-called "halving" that makes investors confident about the BTC rate. Experts understand the halving target for 2020 as halving the amount of Bitcoin that can be created through mining in a certain period of time. This artificial supply shortage is intended to prevent Bitcoin inflation. In a report by the Handelsblatt, analyst Salah-Eddine Bouhmidi from the brokerage firm DailyFX is quoted as saying that the previous Halvings had already rallied in the BTC price in advance.
New startup in the Bitcoin scene
Several media outlets also referred to a report by Bloomberg, according to which Bitmain cofounder Wu Jihan has founded a new startup in the crypto scene. The new company, called Matrixport, is intended to be a one-stop shop for various forms of trading relating to digital currencies. With Bitmain, Wu Jihan founded a company based in China that manufactures hardware for Bitcoin mining. According to media reports, Wu Jihan himself is considered a "billionaire investor". According to the Bloomberg report, Jihan wants to profit from the current bull market with his new startup, which in turn is also seen as a positive signal by other investors.
Either way, the following applies: Individual factors cannot be used to determine why the BTC price rises or falls, and the fluctuations are still high. So if you want to snack on the current increase, you should be prepared for turbulent times - and may have to expect to lose as much money as those people who only got on board in December 2017.
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