While many sites announce the more or less near end of the famous crypto currency, bitcoin resists despite rumours, cyberattacks and the closure of Xtrade. Is bitcoin really in danger? Wouldn’t this be an opportunity to invest? We let you discover my opinion on the subject in this article!
Towards the disappearance of bitcoin?
For those who live on another planet, here is a small summary of the latest information on bitcoin: the Xtradebitcoin exchange platform, considered to be the safest, has been attacked. As a result, thousands of people have lost all of their cyber money investments. Serious warning signals had already been given since Xtrade had already suspended withdrawals from its customers for several weeks. From the Xtrade review you can find the best deals there.
The impact on CFD traders is very different: those who bet on a bitcoin drop were able to take their pockets. Indeed, to lose all your investment by. putting your money on CFDs, you must either use leverage, or wait until bitcoin is worth nothing
Should you invest in bitcoin?
Everything being subject to interpretation, some will see the proof that bitcoin is fragile due to the tumble of the past week. we see rather the victory (at least temporary) of bitcoin which knew how to recover in value quickly after the “disaster”. By the way, you can see on this graph the interface of Xtrade: we finally opened a small account with them. So you will understand, we do not side with the pessimists and we continue (maybe wrongly) to trade CFDs on bitcoin.
Trust is the key
A currency, whether electronic or not, only exists if users trust its value. We are here far from rational economic considerations, the value of the euro itself rests only on this appreciation! In the case of bitcoin, it is clear that confidence has been shaken but we think declaring his death would be a big mistake. It would be to deny the fact that bitcoin has gained considerable value since 2000. In addition, the influence of this electronic money is now global. The crisis of confidence remains limited and as proof, the prices returned to the average levels reached before the terrible announcement.