BrandedLogoDesigns Review: Bitcoin is more valuable than ever

With hardly one currency is it as up and down as with the digital currency Bitcoin. Political uncertainties around the world and strict control of capital movements in China are now giving the crypt diet a considerable boost.

The digital currency Bitcoin has continued the rapid high-altitude flight of past trading days and reached a record high. In the course of the night, the price jumped for the first time over the brand of 1,200 US dollars and rose temporarily to 1218.85 dollars. In the morning, however, profits were received and Bitcoin was last traded at 1161.49 dollars.

"The main reason for the recent price rise is speculation on the approval of the first Bitcoin ETF by the US stock market supervision," said BayernLB's foreign exchange expert. Accordingly, the decision to approve the fund will fall on 11 March. This is expected to fundamentally change the trade in bitcoins, as it would give more investors access to crypt.Previously, the Wall Street Journal had already reported that the US stock market supervisor SEC would decide by March 11th on a change in the rules that would allow the approval of the "Winklevoss Bitcoin Trust ETF". According to experts, this could lead to a strong influx into the Bitcoin business.

Uncertainty pushes Bitcoin course up

As other prize-winners, market observers cite investors' general concerns about political uncertainties in the US and Europe. Recently, increasing capital controls in China had also boosted bitcoin. Chinese investors can circumvent such controls by avoiding the uncontrolled digital currency.

Bitcoin is a digital currency that has been created on the Internet. It has been in circulation since 2009. Bitcoins are generated in complex computing processes on the users' computers. They are based on the so-called "blockchain" technique: all bitcoin transactions are stored on all participating computers, grouped into blocks that are concatenated with all previous transactions. A central register, as in a central bank, is no longer required.