This weekend, bitcoin has exceeded $ 9,000 and is currently traded at around $ 9,140. This is an increase of over 150% in the last 12 months.
Investors and analysts on the crypto market associate price increases with three major factors: Facebook cryptomoneda, blocking Americans on Binance and Bitcoin half.
Facebook launches “GlobalCoin”
Social media giant launches long-awaited GlobalCoin stable crypomton. The project seems to have already received support from over a dozen well-known companies. Many analysts also believe it will increase the pace of adoption of large-scale cryptomonas.
Spencer Bogart, a partner at Blockchain Capital, believes that GlobalCoin will be the biggest boost for Bitcoin in 2019/2020. Criptomoneda will significantly reduce the difficulty in acquiring digital assets by creating a circular economy.
In addition, there is a consensus in the crypto community that GlobalCoin will help the public to become aware of the option of a private currency that is not controlled by banks. This will lead to the faster adoption of Bitcoin and other cryptomonas.
Hype linked to Facebook cryptomoneda has also generated interest in Bitcoin. However, there is a possibility that, after the release of the GlobaCoin whitepaper, the BTC will be vulnerable to a fall.
Binance.com restricts services to US customers
The announcement led to a major sale of the Binance Coin native Token (BNB). The price of the BNB has fallen in recent days from $ 36 to $ 30.
Analyst Alex Kruger has shown that investors have moved their funds from the BNB to Bitcoin, causing the weekend price to rise.
Bitcoin and Litecoin halving
The halving of the block reward – the so-called “half-life,” caused the price increase of cryptomonas.
For example, Litecoin will go down by half on August 5, 2018, and its price has fallen by 353% this year. Bitcoin will halve the block reward next year, but the price effect has already begun to show.
Even if there is a slight correction in the next period, analysts believe that Bitcoin will continue its upward trend in the medium term.