SECTIONS

 — Sponsored by Ghost Hunter Apps

 

Bitcoin is worth $6,000 for the first time this year

S.E. Rogue (strangeradiocentral.com), 05/09/2019

Bitcoin's price has been rising in recent weeks and it's not clear why.  

Last year was a brutal one for holders of bitcoin. The price fell from its all-time high of $19,500 in December 2017 to a low of $3,100 a year later. Then the price mostly languished between $3,000 and $4,000 in the early months of 2019.

But recently bitcoin has been on a tear. On April 2, the price soared almost 20 percent in a single day to reach $5,000. The price has drifted steadily upward since then, and it hit $6,000 on Wednesday.

It's often difficult to explain bitcoin price movements, and this case is no exception. Major bitcoin-related news in recent weeks has seemed mostly negative: a possible Chinese government ban on cryptocurrency mining, worries that a major cryptocurrency exchange might be insolvent, and most recently, hackers stealing $40 million from another cryptocurrency exchange.

Headlines like these are hardly unusual in the bitcoin world—the community has been dealing with hackers and hostile governments for years now. But it doesn't seem like the kind of news that would make people want to buy more bitcoin.

On the other hand, in recent weeks there have been some signs of growing interest in cryptocurrency from mainstream companies. Fidelity is preparing to offer cryptocurrency trading services for institutional customers, which could enable more large investors to hold bitcoin, potentially pushing up its price.

Perhaps most significant, Facebook is thinking about launching a cryptocurrency of its own. The introduction of facebucks wouldn't directly push up bitcoin's value. But cryptocurrencies generally rise or fall together, and a Facebook endorsement could certainly help to broaden interest in other cryptocurrencies.

Of course, the recent price rise could be totally random, too.

The larger question is where bitcoin's price goes from here. Bitcoin has already gone through at least three major boom and bust cycles over its 10-year history.

The cryptocurrency peaked around $30 in mid-2011 before crashing to around $2 by the end of that year. Then it soared above $1,000 in late 2013 before crashing below $200 in early 2015. That was followed by a massive boom that pushed the price up to almost $20,000 by the end of 2017—followed by last year's big fall to barely $3,000.

Bitcoin boosters are hoping that history will repeat itself once more—that the price increases of recent weeks are the start of a fourth major bitcoin boom that will smash through the $20,000 barrier and carry bitcoin to new heights. But bitcoin's three previous booms were each driven by waves of new investors finding out about the cryptocurrency for the first time. At this point almost everyone has heard of bitcoin, so it's not clear if there's room for history to repeat for a fourth time.

Bitcoin is worth $6,000 for the first time this year

 
HEADLINES
IN THE NEWS

Story of Jesus Christ was a HOAX designed to control the people, Biblical scholar claims
The 'peaceful' Messiah story was invented, a scholar has sensationally claimed...
— S. Rogan (strangeradiocentral.com)

NASA Eyes Wild Space Tech Ideas to Mine the Moon and Asteroids
Two far-off NASA concepts could quickly survey lunar craters for astronauts and help identify mining...
— A. Leaf (strangeradiocentral.com)

The mystery of the 100 ton ‘boxes’ at the Serapeum of Saqqara
Ancient precision at its best...
— Finn Sawyer (strangeradiocentral.com)

Yellowstone volcano: Why are THOUSANDS of animals leaving the active supervolcano?
THOUSANDS of Yellowstone animals are migrating away from the active supervolcano, scientists announc...
— Finn Sawyer (strangeradiocentral.com)

Noah's Ark Christian Theme Park is suing its insurance company for Rain Damage.
Heavy rains begin to fall, inundating the earth around it. So they sued....
— S. Rogan (strangeradiocentral.com)

Security camera captures bizarre scene in Colorado Springs
No one seems to know "what the heck" was wandering around her neighborhood......
— A. Leaf (strangeradiocentral.com)

MORE NEWS

The ‘sex slave’ scandal that exposed pedophile billionaire Jeffrey Epstein -TRUMP, CLINTON, PRINCE ANDREW
“I’ve known Jeff for 15 years,” Donald Trump said. “Terrific guy. He’s a lot of fun to be with."...
— S. Rogan (strangeradiocentral.com)

Trump - The God Doctrine
How evangelical Christians are guiding Trump’s foreign policy....
— A. Leaf (strangeradiocentral.com)

Putin jokes about Jews and money during visit to Crimea
Russian president suggests Netanyahu should be invited to unveiling of new synagogue in region...
— Finn Sawyer (strangeradiocentral.com)

Religion in US ‘worth more than Google and Apple combined’
Faith is worth $1.2tn a year - more than combined revenues of 10 biggest tech firms in America...
— S. Rogan (strangeradiocentral.com)

ALL FISH FROM PACIFIC TEST POSITIVE FOR RADIATION FROM FUKUSHIMA
“No cause for concern” … nothing to see here. Do you really believe that?...
— A. Leaf (strangeradiocentral.com)

Exorcists are back and people are getting hurt
The rise of exorcism in Catholic and evangelical churches is like a new Inquisition. But there are w...
— A. Leaf (strangeradiocentral.com)

A Giant Severed Wolf Head From 40,000 Years Ago Has Been Unearthed in Siberia
Preserved since the last Ice Age...
— Finn Sawyer (strangeradiocentral.com)

Bitcoin Threatens To 'Take Power' From The U.S. Federal Reserve
Despite the volatile crypto markets, we’re seeing governments and businesses adopting blockchain tec...
— S. Rogan (strangeradiocentral.com)

Hypersonic Weapons Are Almost Here
And They Will Change War Forever...
— Finn Sawyer (strangeradiocentral.com)

How the Jews Invented God, and Made Him Great
It took a traumatic crisis to make him into the all-powerful creator of the world...
— A. Leaf (strangeradiocentral.com)

'Holy sh*t, what is that?' When Top Gun Pilots Tangled with a Baffling Tic-Tac-Shaped UFO
Fighter pilots and radar operators from the USS Nimitz describe their terrifying—and still inexplica...
— S. Rogan (strangeradiocentral.com)

Senators receive classified briefing on UFO sightings
US senators and the Senate Intelligence committee received a classified briefing about reported enco...
— A. Leaf (strangeradiocentral.com)

PLEASE SUBSCRIBE AND FOLLOW US ON SOCIAL MEDIA
SPREAKER |  TWITTER |  FACEBOOK |  SOUNDCLOUD |  YOUTUBE

STRANGERADIOCENTRAL.com
"Quality Internet Radio and Podcast Production."
© Copyright - AO2 IT CORP. - 2020. All Rights Reserved.
Privacy Policy

 
StrangeRadioCentral.com