Bitcoin Continues to Rise in 2019: but where is the explanation for it?
By Jamie Green – Crypto Expert
The crazy ride of the digital currency markets proceeds with its climb. In 2018, Bitcoin and the other cryptographic forms of money dove after a high finish to 2017, however in 2019, this market is increasing and the sentiment to buy Bitcoin at a steady pace.
Over the most recent couple of days the value of Bitcoin has increased again and reached $11,000 as per CoinMarketCap, a valuation that was not come since November 2018 and the recent rise is the most noteworthy of 2019 so far. The reasons why more people are buying Bitcoin are not clear but could co-inside with Facebook’s recent announcement of Libra, putting crypto in the spotlight once again.
270% Growth since the Beginning of the Year
Bitcoin has increased in value over 2019 by around 270% since the start of the year, and not surprisingly, this improvement in sentiment has been passed onto the other cryptocurrencies in the market and even many securities are developing alongside this.
Information around the globe of cryptographic money did not appear to predict these developments. Libra, though bringing cryptocurrencies to the limelight, has received negative press. Even the markets most popular stablecoin for buying and selling Bitcoin, Tether, has received bad publicity as it was disclosed the Dollar-backed crypto is only supported by 74% of genuine fiat money.
This digital currency is one of many known as a stablecoin. Backing the token with a physical asset hypothetically gives them lower unpredictability and a specific degree of certainty. Nonetheless, the Attorney General of New York is researching the digital money showcase Bitfinex and Tether for supposed extortion and manipulation.
The capitalization of Bitcoin from November 2018 up to present has seen an increase of 100 billion dollars, which is 50% of the market cap of Bitcoin at the time. It goes to say that selling and buying Bitcoin can be a thrill of a ride.
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