One of the most volatile issues facing the investing public today is the fluctuating rates of several digital currencies, including the value of bitcoins. Although most people will not take the time to delve into it, this emerging industry could one day feature as much as a trillion dollars of trading capital, giving it the potential to bring great wealth to many investors around the world. Currently, however, it trades at a value of just under four hundred dollars per unit. This represents a gain of more than ten percent over the last week. This increase has been fueled, in large part, by speculation that the price of bitcoins will exceed those of traditional currencies, such as the U.S. dollar and the British pound. There are, however, other factors that have helped the value of this new virtual currency gain acceptance among investors.
One of the key factors driving the appreciation of bitcoins is the announcement last week by a Swiss bank that it would be allowing clients to trade using the Swiss Bank Account as a form of virtual trading account. The move comes on the heels of the European Central Bank’s announcement last month that it would be taking a look at ways in which to support the growth of the bitcoin industry. In doing so, the European Bank made certain that its members could engage in transactional banking even as it considers ways to stimulate the sluggish global economy. Both moves were meant as signals to investors that the value of bitcoins would continue to grow. The Swiss move was particularly significant as it marks the first time that a Swiss bank is allowing its clients to trade using this type of virtual currency.
Another factor helping the value of bitcoins is the news that the government of Philippines will be creating a regulatory framework for the use of Cryptocurrency. Known as the Philippines Super Currency, the new regulatory body will function as a virtual central exchange for the country’s residents. This will mark a significant advancement in the way that people throughout Asia can trade using any of the numerous cryptocurrencies available. In doing so, investors will once again be able to utilize their savings in order to participate in the global exchange process. This serves to strengthen the role that bitcoins play in the future of finance.
There has been significant volatility in the past few weeks, and many traders and investors are watching anxiously for signs that the value of bitcoins will continue to rise. On tuesday morning, news broke that the Reserve Bank of India would be looking into the possibility of legal tender in India for the Rupee. The move came in response to the recent surge in the value of the cryptocurency. The news marked a significant increase in the likelihood that the Indian government will be able to successfully regulate the activities of the decentralised autonomous system of the nation.
The Reserve Bank of India also looked into other potential currencies for the Rupee such as the Singaporean Dollar and the Saudi Arabian Pound. All three of these currencies have experienced strong increases over the past week. While many investors were concerned that the move would limit the freedom of investors in the region, it was reported that no further moves would be made in the matter. In fact, there was even a statement issued by the Reserve Bank of India which indicated that the decision was solely directed at the valuation of thecryptocurency as a trade currency. The news marks an important victory for the various investors of the cryptocurency who have been waiting for the profitability and success of this newer form of payment technology.
Many investors who have been holding onto their coins and doing nothing else hope that the Reserve Bank of India will announce some form of decision which will permit them to sell their holdings in the cryptocurency. If the Reserve Bank does announce some sort of decision then it will mark the official approval of the new record high prices for the Cryptocurency. Investors have been anticipating this development for quite some time, and are awaiting the announcements of more countries which will begin to accept the new form of payment in exchange for their national currency. Some of these countries include Switzerland, New Zealand, Australia and Canada. The governments of these nations have also begun to work on creating a new regulatory environment which will help move the business forward in the future.
Other cryptosporms will soon follow, and the process will be quite smooth and seamless for all parties involved. Some of these currencies will begin to utilize the infrastructure already in place for the popular Bitcoins and will continue to integrate its use. It will be interesting to watch and see what emerges from all of this as the value and appeal of the different Cryptocurency are becoming apparent. The value of these currencies will continue to rise and dogecoin has already proven that it is quite capable of rivaling the USD and other major currencies throughout the world.
There has been a lot of hype and excitement about the cryptocurency, and many investors are jumping on board and purchasing these currencies. Dogecoin and bitcoin are both attractive investments for several reasons, including the low supply, high demand, and potential to make large profits for investors willing to wait for the upcoming announcements and rulings by the various governments and monetary institutions. This weekend may just be the tipping point that investors have been waiting for, and with the news of an impending fork in the network, investors will have a better understanding of which currencies are more valuable and how the system works. Be sure to keep your eyes open on all the developments throughout the Cryptocurency and make your investment decisions wisely.