The factors that push bitcoin to reach all time high price

As the team of howtoearnmoneyusinginternet.wordpress.com has  predic,the bitcoin  cross the value of 3000 dollar and has reach all time high at 3212, the price of bitcoin at the same day of the last year was 526 dollar, so imagine if you did buy bitcoin just the last year .

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Previously, Bitcoin price broke the $3,000 mark mostly due to optimism surrounding the activation of the Bitcoin Core development team’s transaction malleability fix and scaling solution Segregated Witness (SegWit).

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However, shortly after that, a major market correction led Bitcoin Price to fall to $1,900, and it stabilized at around $2,500 amidst uncertainty regarding Segwit and the execution of the BCH hard fork, which was initially proposed by Bitcoin mining equipment manufacturer bitmain .

Read also :

what-you-should-know-about-bitcoin-cash-coin

 

 

the factors that push bitcoin to reach all time high price :

 

 

 The Bitcoin Cash :

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BITCOIN CASH has increase the demand on bitcoin , all investors, traders that has been given free bcc , sell their bcc for bitcoin , and only few people hold this coin now .

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Many exchange service of crypto currency will suspend thier service for USA citizens :

bitcoin dsd

The second reason that push me to think that the price of the btc will increase , the news that i have read on cointelgeraph today : https://cointelegraph.com/news/license-required-poloniex-bitfinex-will-stop-operations-in-washington , they say in this article that poloniex and bitfinex will stop giving their service of exchange due to Legislation problems for the peoples who live in the state of washington and maybe also this decision can affect the peoples who live in the others states of usa .

 

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This decision means that the supply in bitcoin in USA will become less , we know already that the big volume of trades in the crypto world is from usa , and when the supply is more then the demand the price will automaticly increase , i see that the price of bitcoin could reasch 3200 during August

 

 

The arrestation of the owner of BTC-E the biggest Russian exchange service and the shutdown of the site by the Fbi :

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Btc-e owner was arrested during the last week by Greek police for money laundering and more then 11 bln of funds in bitcoin was taken by the FBI , this event will decrease the suply in bitcoin around the world and will increase the price directly .

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The resolution of the wannacry case :

Just months after WannaCry  Ransomware attack that struck all corners of the globe, the hackers behind the act have moved over 140,000 dollar worth of Bitcoins collected as ransom out of the initial wallets.

fbi

A twitter bot set up by Keith Richards of Quartz pointed out the movements of large sums on Aug. 3. Shortly after the balance of known WannaCry wallets dropped to zero. Companies from FedEx to Nissan and UK’s National Health Service were attacked.

This is not the first move of funds as the elliptic points out.

The company monitors Bitcoin wallets and provides data that is openly available. As seen below over about 10 days starting from May 12, the attacker’s addresses ballooned from around almost zero to $139,000.

Businesses and organizations that could not afford to have their systems offline and data encrypted were forced to quickly pay from 300 to 600 dollar to decrypt their systems.

This could run into tens of thousands for a single organization. From July 24 funds started being moved out and finally on Aug. 3 over $120,000 remaining was moved in a single day.

Sums were generally moved in lots of around $20-27,000 worth of Bitcoins until completely drained.

The Europoll has catch up the hackers in Belgrade and bring them to justice, this event has increase the confidence of investors in the power of bitcoin as a digital asset and a future technology in the world of fiance .

The positive impact of Segwit on Bitcoin transaction :

The effect of the segwit was 100 positive on the bitcoin transaction .

It has reduce the fee of the bitcoin network, and has increase the speed of the transaction

segwit

Read also :

what-is-bcc-the-new-bitcoin

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