As Bitcoin broke the $ 11,000, $ 12,000 and so on up to $ 19,000 on some exchanges, the people wondered if, and how this monster bull would run
He finally ended up for the digital currency since the price was corrected just below the $ 19,000 mark to settle at 14,470 at the time of publication. This represents a decrease of about 14%, which in terms of Bitcoin is relatively minor.
Hardly a crash, or a bubble, as some pessimists might suggest, it is assumed that investors could simply take stock and cash
Reasons for the rise?
Most recent events have occurred because of CME news that they would exploit Bitcoin. Futures contracts come in December. This news has helped Bitcoin to exceed $ 7,000 in a small price boost
However, as the deadlines of December 10 and 18 for CME and CBOE to launch their approach to completion, there has been some force and frenzy. Essentially, this allows traditional investors to add a new asset class to their portfolios and assists in the adoption of such a sector.
Of course, those who have suffered the upside shock will be sad that it is over, having benefited incredibly well in a little less than a week. However, the price correction that this should be considered is probably a good thing before the launch of the future.
Many have seen Bitcoin rise to dizzying heights and then fall abruptly, citing bubbles and collapses and other pessimism, however, it is natural that the correction takes place – especially in a market also speculative.
Adam Sharp, the co-founder of Early Investing, said in September that Bitcoin had faced Bull run:
"It's quite natural and normal for a market to have a correction after a race like that.Historically, Bitcoin corrects by 30 to 50 %.But the long term trend is still strongly bullish.We went from $ 0.0033 in 2009 to all first days at nearly $ 4,000 today. "
With this latest wave of adoption and public acceptance , many feel that even with a dramatic fall in prices, Bitcoin will still not be zero – a concern that was still a potential not so long ago.
FxPro analysts have said of this last correction:
"Bitcoin has proved to all that it is Not able to overcome the gravity, but its exponential rise in value is not just due to the imminent arrival of institutional investors. Cryptocurrencies, and Bitcoin in particular, have become extremely popular With the general public, and as prices rise ever higher, the desire to invest continues to grow. "