Disclaimer

Our systems have detected that you are using a computer with an IP address located in the USA.
If you are currently not located in the USA, please click “Continue” in order to access our Website.

Local restrictions - provision of cross-border services

Swissquote Bank Ltd (“Swissquote”) is a bank licensed in Switzerland under the supervision of the Swiss Financial Market Supervisory Authority (FINMA). Swissquote is not authorized as a bank or broker by any US authority (such as the CFTC or SEC) neither is it authorized to disseminate offering and solicitation materials for offshore sales of securities and investment services, to make financial promotion or conduct investment or banking activity in the USA whatsoever.

This website may however contain information about services and products that may be considered by US authorities as an invitation or inducement to engage in investment activity having an effect in the USA.

By clicking “Continue”, you confirm that you have read and understood this legal information and that you access the website on your own initiative and without any solicitation from Swissquote.

Research Market strategy
by Swissquote Analysts
Live Analysis

Bitcoin is back!

1

Bitcoin’s price rose to a 15-month high during the European morning as it climbed towards the next key resistance that lies at $11,784 (high from February 21st 2018). Bitcoin showed impressive gains since the beginning of year, jumping from around $3,300 to more than $11,000. A performance of more than 230% in less than 6 months. Not bad for an asset that was doomed to die. Nevertheless, this amazing performance remains difficult to explain using a traditional approach based fundamentals. One can mention the geopolitical uncertainty, which has been mostly generated by Donald Trump, or the fact that central banks are slowly moving towards quantitative easing again. Indeed, the spread of dovishness among central bankers could be interpreted as a warning sign that a recession may be around the corner. The last explanation could be the announcement that Facebook is joining the crypto game with its cryptocurrency Libra. We doubt it is the main driver behind Bitcoin’s surge as it would mostly become a competitor. However, the Libra announcement definitely sends a clear signal that cryptocurrencies – or at least DLT – are here to stay.

As Bitcoin passed the $10,000 threshold, investors started calling for a bubble again and made apocalyptic predictions about crypto prices. Nevertheless, we believe that there is still room for further appreciation as the overall sentiment towards crypto is improving and more and more business are accepting Bitcoin as a mean of payment. Nevertheless, the rise was quite aggressive and a pause would be more than healthy in the short-term.

CH0372703436_4_USD
USD
Trade
Open
Close
High/Low /
Volume
Market
Ask
Bid
 
Live chat