Bitcoin above $3300 - All time high

Bitcoin above $3300 - All time high

7 August 2017, 07:18
Champion-FX
0
32

Apparently, the fears regarding a steep drop in Bitcoin price following the "fork" were unfounded. The proof? Above $3300 during the weekend and $50 Billion market capitalization hit for the first time. The main reason for this big upward movement is an increased demand from China and Japan, which basically was exactly what the markets were looking for: support for good ol' Bitcoin. I was reading a few weeks back about some people very confident about Bitcoin reaching $5000 by mid-2018. I have to be honest, I thought they were a tad over-optimistic. Well, the latest Bitcoin movement proved that those speculations are closer to become reality than I thought. In my opinion, considering the latest development and that SegWit is practically here, it is a real possibility that the current rally is far from over.

You can trade Bitcoin, Ethereum and Litecoin 24/7 on MT5 platform, which gives you the possibility to take advantage of weekend's volatility.

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