Here's what causes the bitcoin prices increased in 2016;
Brexit
Brexit a term of "Britain Exit", which will be held a referendum to determine whether Britain out of the European Union which now has consisted of 28 countries in Europe. Brexit campaign which wants Britain out of the EU will be opposed by campaign unmatchable, Bremain (Britain Remain), which wants Britain remains a member of the European Union. Arthur Hayes, CEO BitMEX and Tim Enneking, founder of investment institutions EAM stated that any geopolitical conflict in the world is always an impact on the price of bitcoin on the market. For example, when the collapse of the Greek economy and the tightening of Chinese monetary policy.
reward halving
Soon, rewards received by each miner will be reduced to 12.5 per block BTC. With the increase in demand and a decrease in the number of bitcoin supply, then it is very realistic if the price is soaring. Reward halving this will happen every four years. Rik Willard, founder Agentic Group LLC, stated that halving reward will have an impact similar to "stock split" will attract more people to invest in the stock.
technology Blockchain
Blockchain technology to attract a variety of industries to be applied in these sectors. The industry recognizes the potential benefits of blockchain for business processes leaner, cheaper, and faster. Even some of the consortium has been established to accelerate the development of this technology, such as R3 CEV and Hyperledger.
Concerns China Condition
Arthur Hayes predicts that the conditions of China became a major factor bitcoin price increases, with the devaluation of the Yuan by the Chinese central bank to be the trigger. This uncertainty triggered a high demand for bitcoin in the country, according to Joe Lee of Magnr.
That is the cause of bitcoin prices in 2016 increased. Do you all agree with that? Or there are other causes that make bitcoin prices rising? Let us discuss here.
