Bitcoin again over $ 11,000 2

Bitcoin again over $ 11,000

The game with Bitcoin showed the value of regulated and supervised markets.
Image: Reuters

The course of the Bitcoin encryption system rose sharply on Monday. The reason is probably the price losses of the Asian stock markets.

reBitcoin's digital currency rose again on Monday. Sometimes he noticed about $ 11,853. Other digital currencies also appreciated, but not so strongly: the cryptocurrencies deposited in the "Bloomberg Galaxy Crypto Index" gained about 8%.

Franz Nestler

But where does the recent increase come from? In their recent history, digital currencies have shown a low correlation with other asset classes. But it has recently been observed that prices of digital currencies have increased when Asian stock markets have suffered losses.

This was still the case after the trade war between China and the United States continued to intensify. This suggests that the capital of Asian countries already rich in cryptocurrency is being redeployed on Bitcoin and Co. This is also true for Mike McGlone, a Bloomberg analyst. The rise in premiums for Bitcoin futures is for him a sure sign of a "buy and hold strategy" – so there is less speculation.

This month's rally follows a massive sell-off in July, as Facebook's plans for its own digital currency, Libra, were gradually demolished. Nevertheless, Bitcoin's share price has more than tripled this year and it has offset some of its losses in 2018.

Bitcoin Liquid Index: current prices and news – FAZ.NET

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