FX.co ★ Digital money enjoys stratospheric success

The bitcoin has been posting tremendous results since its appearance. Being a pioneer in this industry, it hits new records. Moreover, it is second to none.

The most popular cryptocurrency provided a new reason for admiration. The bitcoin not only broke above the important threshold of $5,000 but also continued rallying towards $5,100, $5,300 and even $5,800 levels. According to Coinmarketcap.com, currently the weighted average of the bitcoin exchange rate is $5,588. Most experts anticipate further increases. Thus, billionaire Mike Novogratz expects that the bitcoin will cost about $10,000 by the beginning of the next year. “Bitcoin happens to be the bellwether of this entire decentralized revolution, so it’s the easiest way people get gain exposure to it… Things like Ethereum I think will be the public utility of this new space,” the expert said. Some governments feel uneasy about such huge and uncontrolled success of cryptocurrencies. Thus, China and South Korea blocked a number of cryptocurrency services. Furthermore, China banned conduction of ICOs.

It seems that Russia is going to adopt this approach. Anyway, the central bank’s statements about cryptocurrencies are rather harsh. At the same time, the Russian President said it is not necessary to be too strict about the rules of using cryptocurrencies to avoid needless obstacles for law-abiding users.