Daily News | Bitcoin’s new high

A lot of important financial news is on the menu today, which means we should start analyzing them immediately. Bitcoin is a completely digital and also decentralized cryptocurrency, meaning that it functions without a central repository or a single administrator. The last news show us bitcoin’s new high because on Wednesday it jumped above $12,000 to its record value. It received a big boost after CME Group Inc and CBOE Global Markets got the approval to list bitcoin future contracts. Despite bitcoin’s new high, there are still those who think this price can’t be real. Some analysts think that this is actually a bubble. It is very difficult to predict when this will burst, if it will do so at all, so many analysts advise caution. Also, they say that the amount of money flowing into bitcoin is a consequence of “fear of missing out”. This is just another instance of this particular cryptocurrency stirring the financial waters, an occurrence that seems to be happening quite often lately. Therefore, if you still want to get in on the action, it’s still not too late to do so. Just to remind you, bitcoin started out at the beginning of this year with its value somewhere around $1000, which makes this a twelve-fold increase of its value. Will the trend stop any time soon? We will keep monitoring the situation and share all our information with you in the days to come.

Other big piece of financial news comes from China. According to the latest information from Shanghai, The People’s Bank of China will make a big investment. Around 300 billion yuan of funds is scheduled to be injected into the market in the form of long-term funds in order to stabilize cash conditions. That’s one of the main reasons of the fall of shares at the Asian market. We will have more on all of this in the future, so keep following our news!



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Author: Max Rothstein

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