Bitcoin Investments Set To Soar
According to one of the social trading apps, Tradebird, Bitcoin investments is set to soar. Along with this, some other investments expected to rise are Manchester United, solar city and Swiss Francs.
An article by Ivan Ashiminov cites that real traders can offer hints about the future direction of commodities, currencies and stocks. So it is very necessary to know about their thinking process. The article also shows price movement from august 2015- June 2016 on a chart of Grayscale BTC Investment Trust, the chart indicates that it has shown constant gains.
According to the writer, Bitcoin is moving at 92% bullish sentiment. He also states that the auction that happened in Australia of expropriated bitcoin indicates that digital money is going mainstream. He has provided similar analysis of Coffee, Swiss Franc, Solar city, gold and Manchester United.
Now the question arises that what are the reasons that made traders bullish on Bitcoin. The social trading app, Tradebird, has given it a 100% bullish rating.
Some of their recent posts about bitcoin are:
The Anti-corruption drive has played a major role in increasing the popularity of Bitcoins.
China’s Yuan devaluation has also increased the popularity of Bitcoin
Bitcoins also has the potential to catch on with gold bugs. Gold Bug is frequently used in the financial sector and mostly referred to the people who are bullish on the commodity gold. Sometimes it is also referred when a person opposes the use of fiat currency and supports other currency system that is based on the value of gold.
One of their posts surprises everyone that whether halving of Bitcoins would double its price or whether it is going to double the fees of transaction. But either way the miners of Bitcoins would make money.
Swiss town of Zug has also allowed their residents to use Bitcoins. Slowly it is moving on the path of official acceptance.
Under new initiative, now Australians can also buy Bitcoins and also sell them in exchange of cash.