As the attempted coup in Turkey will affect Bitcoin
Does the last jump in the Bitcoin price in an attempt of a military coup in Turkey? According to the investment company Orange Peel Investments happening now events directly affect the value of the cryptocurrency.
Concerned about the attempt of a military coup and unsure of the financial stability that Turkish citizens have begun to withdraw cash. The Internet is filled with pictures of long queues at Turkish ATMs.
Similar sentiments were also observed after the financial crisis in Greece and Cyprus. In USA a mass withdrawal of deposits occurred in 2008 in response to the collapse of the housing market.
A few years ago, the only financial refuge in times of financial instability was gold. Today enter the battlefield cryptocurrency. And Bitcoin, gold is the asset that investors can use in times of financial instability. As evidence can lead to a sharp jump in the exchange rate for Bitcoin after the announcement of the results of the vote on secession of the United Kingdom from the European Union.
The Infrastructure Of Bitcoin
Will I lose this feature in the future of Bitcoin depends on its operational infrastructure. Gold retains its nature regardless of the place of storage, whereas Bitcoin is stored in digital form and relies on digital infrastructure. Before you offer yourself as a safe store of capital in uncertain times, Bitcoin need to pass additional tests of strength.
The interest shown now, the governments of various States to the blockchain, increasing the overall level of confidence in the technology. However, on the other hand, while none of the governments have not found an effective way to regulate cryptocurrency.
The attractiveness of Bitcoin depends in part on its resistance to regulation, together with the fact that it operates on a peer-to-peer method, without reference to geographical boundaries and regardless of the control of the Central banks.
Bitcoin will be strengthened if it is to continue to develop, just as any other currency. In the near future to buy a bitcoin retail customers will be much easier.
What to consider
The weak point of Bitcoin is that it is inaccessible to those who do not know him, and that as much as 95% of the world population.
However, with the growth of popularity Bitcoin, everyone will know about it more people, thereby increasing its value.