Just a few hours ago Italian 2 year bond market soared by around 900% and more bexits could be on the horizon!
On this news we saw a major jump in the bitcoin market but to be honest I don't feel like it had anything to do with this news it seemed like the normal manipulation that goes on day to day at about $400 value you can see these clearly when you look at the last week price point on bitcoin and seem the $300-$400 dips and increases.
However with that being said because of what is going on with FIAT lately and across many countries this is actually a good thing for bitcoin. As hordes of money might go into bitcoin as a safe haven against these wild government swings and crashes.
This pinch as of late has been felt across the world as banks there and in the united states continue to struggle. Most banks are down over 5% some upwards in the double digits. As we saw a great financial crisis here in the us in 2008 Europe seems to be stepping closer and closer to their own.
All of this could lead to large investors dumping money into bitcoin as a safe stop. Yeah I said a safe spot lol as the wild swings of their fiat currency are worse then what we are seeing in bitcoin at the moment.
Time will tell but things do seem to be drastically changing around the world. Be sure you find yourself on the right side.
The disintegration of the EU is in full swing now. Greece was kept afloat by more borrowing, but I'm not sure kicking the can down the road in Italy will be as easy.
The Euro-skeptics in Italy now have a lot of momentum!
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make sense thanks for the info
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Italy could become the Cyprus of 2018. Anyway the instability of fiat money makes crypto more intersting each day.
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"Time will tell but things do seem to be drastically changing around the world. "
The disintegration of the EU is in full swing now. Greece was kept afloat by more borrowing, but I'm not sure kicking the can down the road in Italy will be as easy.
The Euro-skeptics in Italy now have a lot of momentum
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You have a valid point there, with the instability experienced in fiat most people will invest more in bitcoin but i think that will also drive the price down. And when all the ups and downs are settled the price Might return to normal
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There is instability of price in the market, Bitcoin is still safe to invest in the market compare to other currency.Good analysis.
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I really hope that cryptocurrency will take off, as this will be a way to transfer wealth from one population to other, also there are very interesting projects in the works
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The volatile nature of cryptos is both a blessing and a curse. We just hope bitcoin shoots up.
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The theory of paper money with no corresponding reserve is doomed to fail given the levels of debt issued by the countries supporting the currencies. The only way to pay for this debt will be issuing more currency which will make the value plunge. This leads to one of the fundamentals of Bitcoin which is trust; no trust could be given to these central banks as they manage the supply based on their interest, not of the holders. Bitcoin does not have that issue as the only incentive provided is by those who confirm the blockchain validity which has a set supply limit onced mined. So Bitcoin will be able to retain value given the peer to peer exchange functionality with no 3rd party involved.
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Fiat money will without a doubt disappear one day. Make sure you do not to sell your bitcoins and ethereum. Bitcoin because it is the first cryptocurrency and ethereum because it is the first smart contract platform.
Even if bitcoin and ethereum do not become the de facto currencies, they will always be valuable commodities because of their historical significance. Just look at the value of old coins...
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Lately I have been hearing more and more “sound bites” about Bitcoin and all cry to currency. Could we see crypto take off again? Absolutely !!!!
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Lately I have been hearing more and more “sound bites” about Bitcoin and all cry to currency. Could we see crypto take off again? Absolutely !!!!
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Cryptocurrency's dark and dirty little secret...'unrecoverable accounts'!
https://steemit.com/crypto/@stephenthorburn/crypto-bombshell-cryptocurrency-s-dirty-little-secret
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Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Valor2S from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
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Hi, first bitcoin is not a safe haven yet. It is not even an asset class right now. Secondly, italy has been dealing with rising NPAs at banks for a long time and yesterday's sell only reestablished dollars and yens position as a safe currency. Check out the rise in dollar index lately. Third, bank stocks in US fell because banks may be exposed to italian debt and because treasuries rose sharply. Declining rates are bad for banking stocks as they lose net interest income.
So yeah, bitcoin was probably just seeing regular activity.
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It won’t be too long now before the dollar/fiat get replace by crypto
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Todo refleja que se avecina una tempestad financiera. se vuelve a incrementar el precio de los hidrocarburos, en consecuencia crea una fluctuación en los mercados de forma negativa y todavía los gobiernos no han salido del encallo que tuvieron años atrás.
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Now crypto continues to go down
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You see crypto had won the war against fiat and the after war Effect and damage is what we are seeing now. It’s high time crypto went mainstream. Mass adoption is what I perceive. Crypto is BAE { Before Anything Else }
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Resteemed this post, thank you @bitcoinflood
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