Is the crypto currency bubble threatening the world?

29 May 2017, 08:12 | Economy
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The past week has become truly stellar for the world's main crypto currency - bitcoin. On Thursday, at the auction, the bitcoin rate overcame a mark of $ 2,500. , And right after that - $ 2,600 and $ 2,700, stopping only at $ 2,749.

Thus, only for Thursday the rate of crypto-currency grew by almost 20%. Over the past month, the growth of bitcoin has amounted to about 130%, and since the beginning of this code it has strengthened by an average of 200%.

Any exchange rally can not take place without a subsequent correction. Therefore, on Friday and the weekend quotes, they also went down sharply, dropping below the level of $ 2,000, which, according to analysts, fully corresponds to the previous growth.

In the current situation, experts are increasingly beginning to talk about the "bubble" that is inflating the crypto-currency market, predicting its rapid collapse and the collapse of investment. However, in the near completion of the triumphal march of bitcoin, not all believe.

Perhaps this is really so, the benefit of crypto-economy has suddenly become in demand in the world and recently it has been paying increasing attention to the authorities and the largest corporations.

It should be noted that the reasons for the rally on Thursday were not so much the speculative aspirations of the players, but rather a large amount of information indicating a qualitative change in attitude towards bitcoin.

On the eve of the Digital Currency Group, representing 56 companies from 21 countries, announced the achievement of an agreement to address the problem of scaling Bitcoin. Earlier earlier, the Toyota Research Institute (TRI) had announced tremendous success in its blockbuster strategy. At the Consensus 2017 conference, TRI announced the establishment of a number of significant partnership agreements, and also published a large review with its vision of how the technology of blocking can give a push to the future for the automotive giant. Already now TRI is cooperating with MIT Media Lab to study how the blockage will affect the data exchange with vehicles and how it will be able to support future generations of autonomous robot cars.

Thus, it can be assumed that the growth of bitcoin, which is a kind of blood of technology blockade, is primarily ensured by fundamental changes in this sphere and only then by speculative interests.

From this we can conclude that the current uptrend on bitcoin reflects the true situation in the global economy. Today, it is increasingly obvious that the latter has already faced the crisis of the current global model, and cryptoeconomics is seen by many as its new qualitative degeneration.

However, this does not mean that the expected growth will be linear, without kickbacks and "bubbles".

"On Thursday, nothing happened that would not have happened before," the analyst of the Golden Mint Dmitry Golubovsky explained to Ytru.. - When bitcoin soared above $ 1,000 a few years ago, it was all the same. In this market there will always be an inflating and collapse of bubbles. Although the general trend is still growing. The rollback will certainly be quite deep, but the trend will not change, and then the growth will continue ".

The conversation with the expert took place after the bitcoin reached the historic maximum. As the recent events showed, the forecast turned out to be correct and the most powerful rally ended with an equally noticeable pullback.

According to Golubovsky, the current decline after significant growth is not yet the most critical. "The rollback can be back to 500 (dollars)," says the expert, noting that the new growth after this is still inevitable. - Cryptoeconomics is growing, more and more businesses are taking bitcoin for payment, and it will continue to grow for a long time ".



The fact that the attitude to crypto-economics in the world is changing is also evidenced by its recognition by the financial authorities of various countries.

The Bank of Russia recently proposed recognizing crypto-currencies as a digital commodity, having imposed them with corresponding taxes. Thus, the Central Bank tries to implement a simple principle: if there is no possibility to resist any process, the best solution will be to integrate into this process and lead it. The corresponding normative documents can be submitted to the State Duma in a month.




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