Update on bitcoin price 685$!! And has a strong way to go up. Lets welcome 700$ again. Hope 700$ will be the next stable bottom of bitcoin.
Careful now - if American interest rates get hiked after the election, then the bitcoin price will stall. It will still be strong against the yuan, euro and pound, but in dollars it will stall.
Is there a chart for sterling somewhere, some new exchange I think I read about ? The deal with US rates is almost a known quantity because of US government debt and consistent overspending they cannot afford to raise rates.
I forget the exact figures because its terrible whatever it is but every 1% is like an extra trillion in interest per year the US government has to find, they already have a deficit even with all the help given from QE and lowest rates ever recorded. If they cant balance the books now, its likely drastic measures will occur before this is over.
Bitcoin is really not the weakest point in this argument, rates rising is not a feasible event, what happens next is the Dollar gets increasingly weakened by poor governance in politics and in administration by every central bank of the world. All of them rely on dollar which is unsustainable as it is now, doesnt matter who you vote for neither party has a solution to this
