The various financial markets of the world are in a state of chaos at the moment. The trade war between China and the United States has cause the Chinese yuan to plummet in value. Therefore, there are many people around the world who are looking for alternate ways to invest their money. For many decades, people would often invest in gold during a financial crisis. This is because gold is very scarce. This means that it is a very safe investment. It will retain its value despite the chaos that is going on in the various financial markets. Now it seems that bitcoin is becoming a new safe haven for investors around the world. This is evidenced by the fact that the value of bitcoin has soared since President Donald Trump of the United States announced the tariffs on Chinese goods that has caused the value of the yuan to fall.
The world is becoming more digitized every day. This bodes well for the popularity of bitcoin in the future. The value of a single bitcoin is $11,800. However, there are financial experts who believe that bitcoin has a good chance of climbing as high as $15,000. They are predicting that this is going to happen sooner rather than later. Only time will tell if this is the case. However, the trade war between the United States and China could be the perfect storm that is needed to send the value of bitcoin to places it has never been before.
According to Coin Telegraph, another recent development that has caused the value of bitcoin to climb is the fact that the United States has just officially called China a manipulator of currency. This is something that some American politicians have said off the record for years. However, the Trump administration has now expressed that sentiment in an official announcement. This has cause many investors to become nervous about putting their money into the regular financial markets. Instead, they are looking for investment methods that are totally secure and decentralized. Bitcoin fits that description perfectly.
Another thing that has helped the value of bitcoin to go higher over the past few weeks is the added publicity that President Donald Trump has given to cryptocurrency. He tweeted that he is not a fan of it. However, that got many people interested in finding out what it is all about. That has led to more people investing in bitcoin.
