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Saturday, 24 February 17:33 (GMT -05:00)



Foreign exchange market

Bitcoin: Long-Term Prospects


Market participants, including traders, investors and regulators, have been watching cryptocurrencies getting more and more popular over the last few years. Some experts say that central banks will start regulating digital currencies at some point in the near future.

 

 

 

 
According to the analysts working for Pro Finance Service, Bitcoin has already gone up in value by 740% over the past 12 months and by a stunning 1600% over the past 24 months. History shows that sooner or later the governments gain control over everything that the private sector comes up with. Most likely, this is something that the global market of digital currencies will have to face further down the road.
 
While some experts call Bitcoin and other cryptocurrencies a big market bubble, others call them one of the greatest innovations of modern times, with really considerable investment potential. Chances are, people will get used to the technology and let it inside many economic sectors and fields of their lives. However, in this case, Bitcoin may lose most of its value.
 
NordFX experts report that Bitcoin set another all-time high at $6200 the other day. And even though it’s currently trading well below this area, the market bias still seems to be bullish. Anyways, 1BTC is currently 3 times as expensive as an ounce of gold! Many experts believe that Bitcoin is yet to set new price highs in the coming years.
 

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Governments Will Determine the Future of Cryptocurrencies

While market participants don’t know how to treat Bitcoin and other cryptocurrencies and are trying to get used to them, the fate of cryptocurrencies is being decided by governments behind the closed doors. They are also trying to figure out the best way to approach digital currencies. Apparently, this is something new to both central banks and politicians. Since the scale of the cryptocurrency market and the pace at which it has been growing so far is really impressive, they have to come up with a well-though-out approach to the market.
 
Chances are, no government is going to put up with anonymous payment systems that make tax evasion and illegal transactions a piece of cake. In theory, central banks may join the club and start their own cryptocurrencies to make rival to conventional ones like Bitcoin. That’s one of the key reasons why this is definitely going to impact the entire financial world in the future, whether Bitcoin’s peers succeed or fail.
 
However, it will be rather difficult to question the leadership of Bitcoin, the world’s first and biggest cryptocurrency to date. At the same time, the legal side of the matter, as well as the way international governments treat digital currencies, is still ambiguous. For example, China has banned Bitcoin exchanges to prevent Chinese from evading taxes and withdrawing their capital abroad through Bitcoin and other digital currencies.  On the contrary, Japan has legalized Bitcoin. Most probably, Japan is trying to become a fin-tech center.
 
As for the USA, the U.S. government is said to be trying to follow in Japan’s footsteps when it comes to regulating the sector, but the chances of Washington making the same decision are still rather low. Still, Bitcoin doesn’t have to win each and every battle to win the entire war. The very fact that the world’s third biggest economy (Japan) has approved Bitcoin is a major victory itself.
 
By the way, the Silicon Valley is rumored to be investing heavily in cryptocurrencies and related technologies. Experts say, it’s all about cyber security. The technologies the digital currencies are based on can really take cyber security to the next level, they say.
 
At the same time, more and more developers want to oust the U.S. Dollar from the position of the world’s most significant reserve currency and replace it with cryptocurrencies.
 
On the other hand, there is no reason to expect Bitcoin to replace conventional payment means emitted by central banks. From the standpoint of governments, a limited amount of anonymous transactions may seem acceptable. However, legalizing a big-scale system of anonymous payments is a completely different story.
 

 

 

 

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Bitcoin Exchange Rate Drops Below $9000

Earlier today, the BTC exchange rate continued its way down to new local lows. In particular, it temporarily dove below the psychological threshold of 9000 dollars per 1 BTC. According to Coinmarketcap, the current local low is 8720 USD/BTC.

Publication date: 02 February 03:41 AM

Skeptics Predict Bitcoin Crash

As the amount of Bitcoin users is growing like never before, the amount of Bitcoin skeptics is growing as well. They are warning us that Bitcoin is doomed to crash at some point in the future. There are respected investors among them, who think that the rapid growth of Bitcoin and other altcoins is dangerous to those investing in them.

Publication date: 26 January 03:51 AM

Muslims Are Forbidden to Trade and Mine Bitcoin

The Grand Mufti of Egypt Shawki Allam is reported to have issued the so-called fatwa (which means a ban on something) against cryptocurrencies. This means that Muslims can no longer trade or invest in Bitcoin or other cryptocurrencies. To be more specific, the Mufti thinks that trading cryptocurrencies is almost the same as gambling. Yet, gabling is strictly forbidden in Islam.

Publication date: 12 January 03:19 AM

Alpari’s Mobile App Gets Over 400K Users

Over the last few years, the amount of online traders using mobile apps has increased dramatically. The stats show that most of the time mobile forex traders choose mobile trading apps by Alpari, one of the biggest brokers in the international forex industry.


Publication date: 03 January 07:06 AM

Bitcoin Harms Natural Environment

 Today, only 1% of the global population is investing in cryptocurrencies.  However, mining those cryptocurrencies is something that all of us have to pay for. This is what Deutsche Welle thinks on the matter.

Publication date: 02 January 11:43 AM

Bitcoin May Trigger Another Major Financial Crisis

 Some experts say that Bitcoin and other cryptocurrencies may trigger another major financial crisis.

Publication date: 02 January 11:42 AM

Fort Financial Services ¬– World’s Best Forex Bonus Offer 2017

Masteforex-V Academy has recently announced the results of the annual contest named «World’s Best Forex Bonus Offer 2017». Fort Financial Services won the title as the forex broker occupying the first position in the corresponding rating by Masterforex-V Academy.

Publication date: 28 December 09:28 PM

Bitcoin Exchange Rate May Drop to Zero, Morgan Stanley Experts Say

Bitcoin may drop all the way down to zero dollars. This is what Morgan Stanley analysts led by James Faucette told Business Insider. Such a gloomy forecast for the world’s first and most expensive cryptocurrency to date showed up amid another major drop in its exchange rate. The thing is that Bitcoin dropped by 40% from 19K dollars all the way down to 11,8K dollars on December 22nd. 

Publication date: 26 December 12:21 PM

Bitcoin is Yet to Win Major Investors’ Trust

The first Bitcoin futures were finally launched in the USA. However, despite the fact that cryptocurrencies have already been recognized a part of the financial world, skeptics still don’t believe in them and anticipate a cryptocurrency market crash. 

Publication date: 25 December 05:49 AM

Alpari PAMM Service Gets Its Monthly Turnover Exceed $15 Billion

Most people prefer to keep their savings in a bank. They believe that despite those tiny interest rates they get paid, storing money in a bank account is way safer than anything else. The point is, we are talking about storing money while it’s wiser to invest money so that it could make even more money. For example, Europeans like to consider investing their money in various kinds of assets. They further spend their profits on some big purchases or education for their kids.

Publication date: 21 December 03:17 AM