Bitcoin conquered the new value and equaled PayPal

Thursday, August 31, 2017

Bitcoin conquered the new value and equaled PayPal
Bitcoin conquered the new value and equaled PayPal
Bitcoin updates the new highs. The cost of the main crypto currency reached $ 4400, and the bitcoin capitalization was equal to the capitalization of the PayPal payment service. 

So, bitcoin caught up to the capitalization of one of the payment services. And although Visa is still far from Visa, this can be considered an intermediate success.
Bitcoin conquered the new value and equaled PayPal
Bitcoin conquered the new value and equaled PayPal
Demand for the crypto currency is fueling the expectations of demand from institutional investors, and some experts are quite sure that central banks will soon start using bitcoin as reserves. And although what is happening on the market looks more like a fever, more people are invested in crypto-currencies and this has to be taken into account.
Bitcoin conquered the new value and equaled PayPal
Bitcoin conquered the new value and equaled PayPal
On the eve of investment bank Goldman Sachs once again raised the forecast for the price of bitcoin - to $ 4800. However, given the current growth rate, the forecast will soon have to be revised again. 

But even these forecasts can be very conservative: some experts compare the popularization of crypto-currency with the spread of the Internet in 1995. 

Then in just one year the number of users of the global web grew from 1 million to 10 million. And the next year, when the Netscape browser appeared, the number of users increased Already up to 100 million. So it can not be ruled out that the number of users of crypto currency will soar tenfold - up to 50 million or 100 million. And then the cost of bitcoin can reach already $ 50 thousand.

Let's add, market participants have long been saying that the first exchange investment fund (ETF) of crypto-currencies can appear in the US, and this also fuels the optimism of market participants. 

So, it became known that the company VanEck has applied for the creation of Bitcoin ETF. 

Well, it should be noted that in the first half of August the bitcoin, together with gold, acted as a kind of protective asset against the background of fears of an escalation of the conflict in the DPRK.

Mysterious trader skillfully manipulates bitcoin


Bitcoin conquered the new value and equaled PayPal
Bitcoin conquered the new value and equaled PayPal
It was more than three years ago, in May 2014, when the media wrote about how bots manipulate the price of bitcoin "with the help of large-scale fraudulent trading" on the Mt.Gox digital currency exchange. In particular, one of the schemes was considered, which led to the collapse of the exchange, which, since 2014, stopped trading. 

Then many traders began to notice suspicious behavior on Mt. Gоx. From 10 to 20 bitcoins were bought every 5-10 minutes without stopping for a month until the end of January. The operations were carried out by two algorithms, later called "Willy" and "Markis". Each time an account was created, it was used to buy bitcoins for the same amount of dollars. Soon a new account was created, and everything was repeated in a circle.

In total, about $ 112 million was spent to buy about 270 thousand bitcoins, the bulk of which was bought in November. So who is the cause of what is happening and why? 

Ultimately, this alleged manipulation did not help Mt.Gox: the stock market collapsed, which was the largest and most famous fraud in the market for crypto currency. 

It was worth remembering about this case, because now, when bitcoin is trading above $ 3 thousand, there are rumors about a certain trader "with almost unlimited funds that manipulates the market of bitcoins." This trader received the nickname Spoofy because of his attempts to "spoof" the market, primarily on Bitfinex.

 
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