BITCOIN PRICE CHART WITH HISTORIC EVENTS
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Judging by price performance, has been a fairly friendly year for Bitcoin trading, thus adding color to forex trading market. A combination of global economic turbulence and speculations over the potential impact of Bitcoin halving has helped lift the price of the digital currency to bitcoin news 20162017 this year.
The gain came amid global economic turbulence as the world worried about an economic slowdown in China and the potential impact of the Brexit vote that was only a few weeks away at that time. Mixed economic bitcoin news 20162017 from the U. The other uncertainty has been the coming U.
The reward bitcoin news 20162017 mining Bitcoin is set to be halved and that will likely result in a supply shortage. Some traders have been speculating that the shortage will push up demand for Bitcoin, thereby lifting its price. As such, those with a bullish view of halving of Bitcoin mining have been building long positions in the cryptocurrency, thus helping sustain lofty prices of the Bitcoin that have characterized But has also been characterized by losses for Bitcoin exchanges.
Bitfinex of Bitcoin news 20162017 Kong has so far this year suffered the largest loss following a breach on its system. Bitfinex halted trading in digital currency following the attack. Several other Bitcoin exchanges and brokers have been targeted by hackers this year. Several analysts, including investment banks, have weighed on the likely direction of Bitcoin in The predictions generally imply that Bitcoin prices will continue to rise in the coming year. A growth in Bitcoin transactions should lift prices along with it.
As per the analysts at Wedbush Securities, Bitcoin price will likely double in Buying ahead of the anticipated Bitcoin supply cut is seen as one factor likely to drive up the price of the cryptocurrency in Venture capitalists have also recently shown growing acceptance of Bitcoin and digital currency technology, thus pouring their money in companies focused in blockchain activities.
Continued economic uncertainty in Europe and other parts of the world is also seen as a possible catalyst of Bitcoin price rally as traders buy into the safe-havens digital currency.
However, Europe bitcoin news 20162017 also been cracking down on retail forex brokers it is not clear what impact that would have on the prices of Bitcoin. Stay up to date with the financial markets everywhere you go. Home - Top Stories - Bitcoin: Bitcoin supply curtailment The reward for mining Bitcoin is set to be halved and that will likely result in a supply shortage. Potential Bitcoin price drivers Buying ahead of the anticipated Bitcoin supply cut is seen as one factor likely to drive up the price of the cryptocurrency in Comments 0 comment s Click here to cancel reply.
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