Cryptocurrency: Will a bitcoin bubble burst soon?
The story is actually too good to be true: If you had put 500 Euro into Bitcoins five years ago, today would be more than just a millionaire – he would have one and a half million euros. And there are, in fact, cases of predominantly young people who have diligently mixed in to launch the digital currency. Today, they can do one thing above all: count your money in the account. However, they can not swim in money like Dagobert Duck – because digital currencies do not exist as bills and coins – but only on computers and in the windings of the Internet.
And here, on certain exchanges, digital currencies such as bitcoins are briskly traded. Some want to jump on the train, others sense dangers and risks and withdraw at least temporarily out of the currency. This has led to strong fluctuations in the value of bitcoins in recent days. Nevertheless, the steep uptrend is basically not exposed – almost every day Bitcoins celebrate new records. How does Bitcoin euphoria come about?
Bitcoin – soon to be socially acceptable?
The recent price explosion of Bitcoin has several causes. For one thing, the digital currency is becoming increasingly popular in Asian countries. Japan, for example, is a stronghold of the predominantly young Bitcoin community. In other countries, such as Venezuela, where the domestic currency has depreciated rapidly, Bitcoin serves as a stable alternative, even lucrative these days. This development has probably brought the head of state Nicolás Maduro the idea to introduce their own digital currency with the name Petro. This should remind you that Venezuela, despite its blatant economic crisis on the largest oil deposits in the world sits. And finally, Bitcoin also plays a role in criminal milieus – because the transactions are not documented by any intermediaries such as banks. And because the participants in the transactions are anonymous, Bitcoin play an important role, especially in cybercrime. Extortion money after the invasion of Trojans into foreign systems should often be paid in the form of bitcoins.
But in recent weeks, there has been one more decisive development that has driven the course: Observers say large investors like hedge funds have also jumped on the bandwagon – wanting to share in the gold rush sentiment and to be on the rise of bitcoin’s steep rise in value. And finally, there will be futures contracts for bitcoins. Last week, the US authority CFTC approved Bitcoin futures. Two US exchanges now want to launch these securities and bring the first futures into the trade and among the people. This will allow investors to bet on rising or falling Bitcoin prices – and thus profit from the swings they have made properly. That this is not a one-way street up, should be clear. “Once trading on the futures markets, it may be good that somebody puts a lot of pressure We suspect that there will be different players against each other – and that could give a setback, “says the fund manager Hendrik Leber of the asset manager Acatis.The step of Bitcoin on the futures exchanges can be understood in general so that the Bitcoin grows out of its infancy and socially acceptable becomes, says Leber.