Bitcoin is around US $ 9,000 and up 59% in May between commercial tension
The bitcoin fades May bordering the psychological barrier of US $ 9,000 thanks to the rise of 58.84% experienced this month, spurred in part by the instability in international markets derived from trade tensions between the United States and China.
Taking Coindesk's data as reference, from May 1 to the present, the value of bitcoin has increased by more than US $ 3,000, from selling each unit of this digital currency for US $ 5,297.94 to US $ 8,415. , 46 quoted this Friday.
The Bitcoin started the year around US $ 3,800, so in five months it would have experienced a revaluation of around 110%.
This currency marks maximums since its December 2017 record, when taking each of these currencies cost around US $ 20,000 and also represents the biggest advance in a single month since August 2017.
This advance coincides with the downturn experienced in Wall Street: the Dow Jones has gone from stability above 26,000 points to lose 25,000, influenced by the unstable march of trade negotiations between US President Donald Trump and the president Chinese Xi Jinping.
The stock market uncertainty seems to have led investors to bet on other assets such as bitcoin, in an uptrend, as well as other safe values such as the price of gold.
As indicated by the analyst of IG Aitor Méndez, the volume of trading in this market has reached "unprecedented levels", having negotiated only on Tuesday, digital assets worth close to US $ 100,000 million.
"The amounts reached this May are unprecedented in the historical series, even at times of higher market fever at the end of 2017 and the beginning of 2018," Méndez said in a note to his clients, which raises the capitalization total of the currency above US $ 275,000 million.
However, in the minds of analysts also weighs the enormous volatility of digital currencies such as bitcoin, which in 2018 lost 80% of its value in what seemed like the outbreak of a bubble.
"As we have said before, the volatility of Bitcoin can act as a double-edged blade, it is not great to use as a store of value, but it generates headlines and attracts interest," explains eToro senior analyst Mati Greenspan, which concludes that "the fact that a rapid recovery happens to each setback tells me that the market sentiment is bullish".
This May, the world's largest "chain of blocks" technology fair was held in New York, where this coin is based, which functions as an accounting and public book whose security lies in the fact that information is shared among all its users and results hard to fake.
Coinciding with it, there was the first major upturn in the price of this currency, the "Consensus effect", since when this meeting of companies and experts working with these currencies is held, the enthusiasm of investors is reborn and they bet on the purchases of these assets.
Today is held in Washington a meeting organized by the US Securities and Exchange Commission (SEC, in English) which discusses these digital assets and possible steps towards the regularization of these currencies, the lack of which is its main attractive, but also one of its most important weaknesses.