Dmitri Lysenko
Probably, you have already heard about the new currency that costs around $1000. Only in November 2013, the currency gained 400%. This is not a joke! This is Bitcoin! At the same time, the army of sceptics is growing. They say this is another financial pyramid or internet fraud…
Where is the truth? Does Bitcoin have a bright future ahead? Let’s ponder on these questions together with the experts working for Optionova and Masterforex-V Academy.
Bitcoin
Bitcoin is an online currency that came to existence in 2009. It is not regulated or emmitted by any central bank. It is a decentralized currency, which makes it less dependant on any economic, political or financial shocks around the globe.
Still, the adversaries that are against the currency say it is unsafe. For examples, it is reported that some hackers managed to hack the system and steal some 5400 bitcoins (which is roughly equal to $6 000 000). The money belonged to a popular internet store. Sone, they say this may be the beginning of the end for Bitcoin as a currency.
At this point, the currency is too volatile and unstable to be called a serious means of payment. In order to become more stable, the currency needs some regulation. Still, the very idea of Bitcoin as an unregulated currency will become meaningless in this case. This is the dilemma.
On top of that, experts say Bitcoin is not backed by anything and has no real economic value unlike other currencies issued by sovereign states. At this point, the emission of bitcoins is said to be restricted by 21 000 000 units. When the Bitcoin mining reaches the limit or there is some system breakdown, the currency may well collapse. Some experts say that Bitcoin resembles a financial pyramid.
On top of that, officials say the currency has become popular among criminals since its turnover is uncontrolled. They say this presents certain dangers. Ther opponents say that Bitcoin is like a knife – you can kill with it or you can cook with it. It depends in which hands the instrument is.
Masterforex-V Academy Experts On Bitcoins
Bitcoin is the prototype of the future global currency uniting all economies into the global one. Still, at this point Bitcoin is like a Russian roulette. Once could benefit from short-term fluctuations but Bitcoin cannot be considered a safe-haven asset or a currency to store your savings in.
On top of that, this is a smart project created by the world’s most powerful designed to experiment and work out an efficient mechanism of creating an alternative global currency in order to:
Keep controlling the world like the way ti is done with the help of the US Dollar.
Control the virtual world by means of a currency that miraculously became popular out of the thin air.
Take a look at the powers that promoted Bitcoin.
The People’s Bank of China forbade businesses to use Bitcoin while leaving this option only to individuals.
Forbes published an article called “Crypto Currency”.
Not so long ago (On August 8th 2013), the US Court recognized Bitcoin as “real money”
The Island of Alderney (belongs to the UK) is going to start minting physical bitcoins.
Bank of America assumes Bitcoin may become the world’s leading currency in the near future.
That is why 1 Bitcoin is currently equal to nearly $800.
Once again, investing in Bitcoins is rather risky at this point, which means you should treat it carefully. At the same time, the level of security is currently underdeveloped and fragile. When you trade conventional assets like stocks or commodities, you clearly understand their value. Bitcoin’s value is still undefined clearly, which makes it a risky asset to own and trade.
Despite the fact that the new technical analysis developed by Masterforex-V Academy to trade currencies and other assets is universal, Bitcoin is not the best asset to trade since its liquidity is rather low (just 21 000 000 units) while the trading volume is undefined. Even though you can trade Bitcoin successfully, it is rather risky and beginners are not recommended to trade it in order to avoid major losses.
Dmitri Lysenko
