Bitcoin, because of the guess that Segwit2x will still be, up to $ 8,000 !
Bitcoins via Cash Application
The value of bitcoin jumped again and hit a new record high, which was set one week earlier. Bitcoin experienced a 30 percent correction in the meantime.
The reason for the strong growth (56% of bitcoins was bought with Japanese yen and 25% whit Dollars), was the news that the Square Payments Platform is testing whether its users could trade with the Cash application. The news not only helped bitcoin, but also the Square shares, which jumped five percent higher.
Any major correction is a good reason to buy
It turned out again that any huge drop of bitcoin is only an opportunity for additional purchase. Genesis Global Trading found said, that Bitcoin is recovering rapidly after dramatic fall. In four times this year, when bitcoin lost more than 20 percent, it gained 28 percent over the next two weeks, and 61.5 percent in the next four weeks.
Last week, the bitcoin dropped to $5,620, and on Friday it was already 40% higher. Its market capitalization increased by more than 40 billion dollars in six days.
Bitcoin Cash after five minutes of glory went down
On the other hand, the value of bitcoin cash, the currency that was created after the break-up from bitcoin in August, dropped significantly. Because of the hypothesis that bitcoin cash could even take over of bitcoin (which is for now undoubtedly the number one crypto), the price of bitcoin cash reached $2,477 last Sunday, and then slid a good thousand dollars in a few days.
UBS is critical to the cryptocurrencies
The Swiss bank UBS estimates that cryptocurrencies are speculative balloon and that it is most likely that cryptos will never replace classical currencies. They wrote, that most investors is buying only in the faith to sell them for higher value, without using a single coin to pay for products or services.
My 2 cent opinion is that Bitcoin will hit $10,000 !
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