About two weeks ago, Bitcoin value was approaching $4,000
Since that, its value grew in more than 60%. Is the growing about to continue?
Bitcoin has been through some tough weeks. During last month, it experienced almost 60% fall and then a return to growth. In the middle of March, Bitcoin was traded for less than $5,000 and it is currently attacking $7,000. It may even grow more in upcoming days.
Bitcoin traders recorded higher demand of investors after the Fed’s decision on its preparedness for a massive monetary expansion. The step aims to support American economy against negative impacts of the new coronavirus pandemic. Only on Tuesday, Bitcoin value rose in more than 60%.
Investors fear that Fed will actually deliver on its promises and release up to $4 billion to the American economy. In that case, inflation could grow much higher than we’ve been accustomed to. Such a situation would lead to seeking for assets protected against inflation. Investors usually choose gold and crypto currencies are often discussed, too. As Bitcoin is the crypto currency with a longest history, both investors and small savers still trust in it.
