How far can a rise in the bitcoin?

 

The Bitcoin has experienced increases in the historical in recent months, and most economists fear that a speculative bubble.

Its course depends on geopolitics, China and Russia have a position equivocal about it.

500 % increase in the year 2017: The bitcoin is back very strong, after countless announcements of his death. In the beginning of the year, the most famous of the crypto-currency was worth barely $ 1,000 a unit. In August, it exceeded 4,000. Last Friday, the bitcoin was for the first time the bar of $ 6,000. Beating the Record.

If the value is a little down since (5.914,69 dollars for 1 bitcoin on Monday), this inflation outstanding questions on the limits of the development of this currency.

Bitcoin meets a real passion from its users. In effect, this currency allows you to bypass bank fees and secure transactions on the internet. Yet, at the same time, Bitcoin is not a currency that is concrete and thus remains largely unregulated.

Then, the Bitcoin fantasy geeks, money 2.0 or dangerous grey area? Maybe even a little bit of everything at once. An «e-money», created from pieces of computer code complex will be automatically generated by computer, a process called «striking» and which can in theory be duplicated by any person with a computer. Once created, Bitcoins are stored on the hard disk of the computer of their owner in a virtual wallets and can be exchanged with a third party. Such exchanges without going through the banks and remain anonymous. But they are risky: in June 2011, hackers targeted the wallet virtual that they have emptied without the knowledge of their owners.

Bitcoin is, you might say, a complementary currency «chemically pure»: it is universal, accessible to all (there is enough of a connection to the Internet), under the control of any State or company, completely independent of the banking system, self-regulated, secure, and money creation controlled and limited. Bitcoin also solves a stroke all the problems associated with a currency area: first, authenticity of transactions, immediacy of exchange, divisibility, homogeneity, storage.

What is the future for Bitcoin?

Bitcoin as a currency legitimate has number of disadvantages:

1. Bitcoin has a low confidence as a unit of account, its price is very volatile. However, it is the stability of the exchange rate and inflation which create the trust.

2. Not channelled to financial intermediaries, Bitcoin cannot be considered as a real store of value and savings because of the deposit guarantee. Certainly, one can imagine a safe haven but how to ensure its value, at what rate and from whom?

3. Bitcoin can be an instrument for the transaction, at least partially, but it raises the question of the guarantee of the security of transactions by an independent body

4. Especially, more than any other currency, Bitcoin is exposed to the phenomena of the crash. With a course that flew these past few weeks, it should be borne in mind that it has, for example, lost 50% of its value during the single day of April 9, last. Since the currency has rebounded, but the experts warn of a speculative bubble which may burst, which is expected in the short term to prevent Bitcoin to have a seat more and become a currency legitimate.

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