Bitcoin reached the highest level of US $ 11,000. After touching the highest level of US $ 11,388.33, bitcoin slipped 18 percent to US $ 9,290.30 on Wednesday, November 29, 2017.
Citing the CNBC page, bitcoin tried to move to the level of US $ 10,000, and eventually traded in the position of US $ 9,725. Bitcoin trading is very volatile because it is struggling to keep up with demand.
In the midst of volatile bitcoin value movements and touch the highest level a number of parties give their views on bitcoin. Bubble, ponzi, tulips became one of the words used for crypto critics over the past year. This is considering the bitcoin is in the position of US $ 1,000, now the highest level reached US $ 10,000. JP Morgan CEO Jamie Dimon said the digital currency is only temporary.
Bitcoin posted a profit return of more than 900 percent since early 2017. One trader said the bitcoin increase in 2017 is among the largest he has seen in more than 40 years working in finance.
David Shrier, Distilled Analytics Academics and CEO said, it is absolutely no doubt there is speculation that occurred with the digital currency. But that's not a bad thing.
"There is enough utility and bitcoin utilization that will keep the value even if the price is reduced Amazon does not touch the US $ 0 level when the dotcom bubble bursts as well as the bitcoin will not touch the zero position," he said as quoted from the CNBC website on Thursday (30/11 / 2017).
Dominic Williams, DFNITY Project Scientist is also skeptical about the digital currency. There is a small possibility of holding an initial coin offering project (ICO) successfully. ICO is a way for companies to collect in exchange for conventional and digital money. This is different from the stock given to investors. But instead can be traded and used for the company.
"Most have been created specifically with the ambition of raising money from enthusiastic investors rather than giving utilities in the real world," he says.
Meanwhile, Ken Griffin, Founder and CEO of Citadel worries that some investors are mixing blockchain and bitcoin. Blockchain is like a digital ledger that can record transactions. It's the basic technology that makes the digital currency for bitcoin and ethereum. To CNBC, he said many people bought it but did not understand the underlying technology.
Shrier said, if he is not too worried about the digital currency that will fall inhibition of bank receipts. There is even speculation that it can help attract new sources of capital.
While Williams said, if the digital currency that can be used everyday, its value must be tabil. If not then it will not be effective for media exchange.
"The value of bitcoin is very volatile because it was created mainly by the interaction of speculative demand," he said.
He worries about the possibility that some people who enter may make trouble so as to make bitcoin as a pyramid-shaped marketing scheme. This can make early buyers get rich, but others lose a lot of money. "Only time will tell it," he added
These Factors Make Bitcoin Soaring
Previously the value of Bitcoin digital currency continued to rise. Now this cryptocurrency value is at US $ 9,481 or Rp 128.14 million per coin (exchange rate assumption Rp 13,516 per US dollar), the highest record in history.
Business Insider reported, Monday, November 27, 2017, at the close of trading last Sunday afternoon in New York, bitcoin value can skyrocket to above US $ 9,000. This figure has increased US $ 1,000 from the previous trading on Thursday.
This price rose more than 20 percent in a week or more than 900 since late last year. The jump in bitcoin prices is in line with the influx of large investors and rising speculation. The rapid surge in Bitcoin's value also seems to be due to the biggest platform user spike to buy and sell this digital currency in the US.
Coinbase bitcoin sales platform for example, got a user increase of 100 thousand from Wednesday to Thursday last week. Finally, the application developed from San Francisco has 13.3 million users.
The rapid rise of Bitcoin values also seems to be due to the biggest platform user spikes to buy and sell these digital currencies in the US.
Coinbase bitcoin sales platform for example, got a user increase of 100 thousand from Wednesday to Thursday last week. Finally, the application developed from San Francisco has 13.3 million users.
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