BITCOIN BUBBLE IRISH VS AMERICANS

Updated: 12/06/2013 15:48
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It's been several weeks running the entire world is shuddering talking about the future of Bitcoin cryptocurrency and other alternative virtual...

It's been several weeks running the entire world is shuddering talking about the future of Bitcoin cryptocurrency and other alternative virtual cryptocurrencies. No wonder that significant decline of the exchange rate BTC/USD did happened. No-one can live forever, however everyone who was able to keep an eye on the situation could take an advantage from the mess that was happening here all this time. As for the negative rumors and positive ones, let me show some opinions, critically different about the Bitcoin and its future.

Seems like in the days of cryptocurrency bubble only the laziest ones have never been involved into into trading and speculating it. Still there are deliberate traders, who are not dealing with bitcoin as a matter of principle. Barry McCarthy, the chief executive of Casimir trading and a lecturer in financial trading with Independent Colleges Dublin said the following:

"I’ve never met a single Irish person who has traded it. It is concentrated in the hands of Russians and Chinese".

Mr. McCarthy is sure with the help of cryptocurrency Russians have found a way out to move their funds from Cyprus funds, and Chinese have started to use Bitcoin as another method of avoiding the restrictions on using foreign currency. Eventually, the price on Bitcoin has started to fall, being not able to sustain the competition with gold.

The analysts from Bank of America vice versa consider Bitcoins to have good growth potential and make it equal with the silver status in case the rate will rise to $1300 mark. As one of exchange means Bitcoin has many advantages and benefits however at the same time there are certain drawbacks, which will ultimately not let it grow to the world currency status. No matter what, all these rumors around Bitcoin so far don't affect further active fall of the Bitcoin rate on the market. So it's all just starting here!



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