virtual currency - the bitcoin at the highest level of the year

virtual currency - the bitcoin at the highest level of the year(FX Echo)


The price of virtual currency takes off for a few months and the trend has even accelerated in the last trading sessions. The bitcoin is up over 110% since its low in January 2015 and even recorded a 70% increase since the end of August or in just 2 ½ months. The crypto-currency, currently rated 340 dollars a bitcoin, is still far from the highs it had known the end of 2013 around 1,150 dollars, but it seems that a new uptrend is emerging, driven both by technical indicators than by a beneficial news for virtual currency.
What pushes the value of bitcoin on the rise?

(fxecho)Over the past weeks, many events were favorable for bitcoin and explain the spectacular performance of the crypto-currency on the last trading sessions. Many of renowned investors and US banks have announced their investment in "blockchain " the technology backed by the bitcoin to facilitate online payments. The former Treasury Secretary Larry Summers to the champions of the "FinTech" , via the Wall Street giants , stakeholders had that one word to mouth: the "blockchain". This technology to make trading currencies and online payments more secure, faster and cheaper could indeed revolutionize the world of finance and it currently relies primarily on the bitcoin.
Last Thursday, is from the highest court of the European Union that the bitcoin got a boost. In a ruling Thursday, the judges of the European Court of Justice considered that the traditional exchange of currencies against the bitcoins should benefit from a VAT exemption . This disadvantage of virtual currency relative to other international currencies will therefore be terminated and this is a way for the bitcoin strengthen its image among mainstream investors. It is extremely buoyant effect for virtual currency to receive the recognition of a body as important as the European Court of Justice.
bitcoin wallet-plus-year high
Technical indicators virtual currency are still overbought http://fxecho.com/

If the fundamental background of bitcoin seems attractive, as the technical indicators are overbought to them. We recommended to buy bitcoin just a few months to enjoy the announcements of new liquidity from central banks, which tend to strengthen during the bitcoin. After 70% of performance in just two less and an RSI to 93.06, it is may be time to take some profits or expect a slight strengthening before re-renter the bitcoin on the supports levels of 311 USD or 295 USD.
Many brokers offer CFDs to speculate on the bitcoin

(FX Echo)Faced with the growing popularity of bitcoin to individual investors, many brokers CFD as Plus500 , IG or AvaTrade now allow their customers to buy CFDs bitcoin . Faced with the product's success, AvaTrade recently increased its leverage on the bitcoin 4 to 20 to allow CFD traders realize the greatest gains this financial instrument. Do not forget to ask our opinion on Avatrade for details on the broker.