Some Updates about Bitcoin Trading

There have been many updates to Bitcoin lately when you read the Bitcoin News. Apparently, there is a downward trend. It has been struggling recently after being stable for a while. At the end of this month particularly, the decrease has been sharp. Today’s bitcoin price is twice lower than last year when it started. From the recent plateau of $10,000 it fell to $8,000 due to the lackluster performance of cryptocurrency and Bakkt bitcoin.

New data suggested that there is a slump in bitcoin price and that this may be due to the coming of age of bitcoin and cryptocurrency markets. Bitcoin is known to have its quotability as its strongest predictive measure. It is being treated by investors as any other type of investment and often it is being discussed along with the more traditional currencies.

Bitcoin is also sensitive to the emerging competitors in the market such as Facebook’s libra project and also Mastercard and its partnership with R3 means that the bitcoin is indeed mature. It is now safe to say that it is intertwined and is part of every investor market in a mature manner.

There are many watchers or observers of the bitcoin who hope that its reputation as digital gold will stay on and that it will eventually serve as a safe haven asset where investors can keep on buying during political and economic crises.

Bitcoin this week slightly bounced back to over $8,000 which may be due to the plan U.S. Federal Reserve to put in more cash in the financial market to enhance the balance sheets as well as the inflation.

Based on recent Bitcoin news, it continues to bounce around the $8,400 price mark. Most of the top 20 coins through market capitalization have shown slight gains. The cryptocurrency market has been enjoying mild gains at a range of 1 to 2 percent. Binance Coin or BNB which is the number 8 coin by market capitalization is considered the top 20 coin that sets itself apart from and it is currently at a surge of more than 7.5 percent.

Bitcoin has been bouncing between $8,300 and $8,400 in a day. While BTC is trading within this tight range and it may be preparing for a huge move, the billionaire investor Tim Draper is expecting bitcoin to change the manner in which governments worldwide operate. Draper calls BTC the “startup currency.”

According to Draper, the decentralization that Bitcoin causes makes all the geographic borders irrelevant. He also added that investors are no longer at the mercy of toll trolls and dictators.

Bitcoin investors must be aware of the countries that have the highest premiums in cryptocurrency. The highest is Hong Kong’s OTC Bitcoin market at 2 to 4 percent. The People’s Bank of China prohibited cryptocurrency trading. Nonetheless, investors continued to invest in BTC even after the ban. They are forced to move their investments to the neighboring countries like Hong Kong, enabling trades in a peer to peer manner. Bitcoin indeed is resilient and has a strong staying power.