Who is pushing the bitcoin price to highest level?

The price for one bitcoin reached $700 on Monday 13 June 2016 for first time since february 2014, The reasont for the price pushing too hight is the Chinese buyers. Chinese traders were behind the majority of the rally, trading volumes show that about 85% of the transactions are beeing executed in yuan, . Investors are biding on bitcoin before ‘the halving’ Investors are bidding on the currency in anticipation of a phenomen that will cut the bitcoin supply in half. This event, which bitcoin enthusiasts call “the halving,” should happen in July 2016 . actuall, bitcoin miners — people who are rewarded with newly minted bitcoins for contributing with computer power to the network — are rewarded 25 bitcoins every time they mine a new block. After the halving, the reward will drop by hapf to 12.5. The mechanism behind the halving has been written into the bitcoin protocol to manage the bitcoin production over the long term. Basically the halving is the bitcoin monetary policy. 

Everyone who is using bitcoin knows what the money production will be in four years or 20 years ect…

Leave a Reply

Your email address will not be published. Required fields are marked *