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We at EconoTimes, consider this as an underestimation if the critic says Bitcoin has had an eventful week, starting December at around $10,000 and stopping to a whopping $19,000 mark on last weekend (some exchanges traded over $20,000). While the bull-ride has been exciting, many, including American broadcaster Max Keiser perceive it’s majorly driven by the underlying news and the professional investors pouring money into the cryptocurrency industry on the back of the news.
So, what actually the news is all about? The whole universe shouts by saying, CBOE and CME launching futures trading schemes, while we say it’s not the standalone.
On the contrary to the popular constructive belief, as per the few set of other class of analysts’ reports, skepticism is still lingering, the bitcoin has still not proven itself to be a viable safe haven for investor assets. After various dubious perspectives, a question strikes shrewd investors mind. Is the cryptocurrency in reality immune to the risky circumstances such as regulations, inflation, fraud-free and hassle-free?
JP Morgan chief strongly criticised cryptos, whereas, Goldman Sachs has been bullish on bitcoin aggressively exploring blockchain technology for financial transactions and trade infrastructure and foresees Bitcoin "Broadly Heavy".
Well, over the past few years, the attention reaped by cryptocurrencies no matter how the coin is developed, based on which technology, has lured investors rushing to online exchanges hoarding whatsoever coin they hear about and tend to get into the bitcoin fray.
The cryptocurrency industry is now hit at a $300 billion market cap, with projections upto $2 trillion by next year.
As of today, more and more novices are infusing money abundantly into the industry with a great deal of hope of becoming multi-millionaire within a short span. As the cryptocurrency boom marches on, a lot are wondering when the bubble will burst.
