The Bitcoin course is slowly starting to climb. After the conflict between Israel and Iran initially caused a fall in price below 100,000 dollars, Bitcoin is now again near his all-time high. This follows the American stock exchange, which achieved a new record on Friday.
Why does the bitcoin rise?
An important reason for rising the Bitcoin course is that the financial circumstances in the United States are almost optimal for the digital currency. This is the package of circumstances that determine the availability and costs of credit.
Because of all the bad news (trade war/geopolitical tensions) you would expect it to be difficult for the financial markets to move up. However, nothing is less true.
The lower the financial circumstances (blue and white), the better the economy is. Although we saw a peak in April, in which the credit creation was squeezed for a while, it has already moved down again.
And if you compare the peak with that of 2008 (financial crisis) and 2020 (COVID-19), then it all didn’t mean anything. It was made great in the media, but the economy remained strong under the hood.
Trust is huge
You could say that the American economy is doing well and that there is a lot of confidence about the future. That is the reason that credit currently flows richly through the economy.
If even throwing American bombs at Iranian nuclear facilities do not lower the prices, then you can assume that the economy is doing very well.
Bitcoin now seems to realize that and slowly climb further up. Could Bitcoin break his all-time high from $ 111,900 this week?
Source: https://newsbit.nl/bitcoin-schiet-omhoog-naar-108-300-wat-is-er-aan-de-hand/
