Technology: Bitcoin escapes the impact of criticism and rises above six thousand Euros

Technology: Bitcoin escapes the impact of criticism and rises above six thousand Euros
Criticism of the digital currency Bitcoin continues to pile up, but Bitcoin has already risen more than 600% since the start of the year.


















Criticism does not stop at Bitcoin. This Thursday, the value of the most popular cryptomoney in the world reached a new record, above the seven thousand dollars, the equivalent of about six thousand euros. It is up more than 600% since the beginning of the year.

Less than 24 hours earlier, US finance regulator SEC described some celebrity-sponsored crypto-funded financing systems (such as socialite Paris Hilton and boxer Floyd Mayweather) as "potentially illegal." For months the organization has been trying to warn of fraudulent investments in crypto-coins.

Contrary to September - when Bitcoin fell 32% after China closed digital currency trading services in the country - October was a month of growth for the currency. The value of the currency rose above 4000 euros on 12 October, and passed the 5,000 euro barrier a week later.

November follows the trend, but alerts continue. This Thursday, the chief executive of Credit Suisse said interest in Bitcoin and other criptomoney may still drop. "As I see it, the only reason to buy or sell Bitcoins today is to make money and that is the exact definition of speculation and speculative bubble," Tidjane Thiam told a conference.

The anonymity that the currency offers is another of the big problems. One of the assets of Bitcoin and other crypto-coins is that they exist on the fringes of any regulation, without involving banks or venture capital. But for Thiam, "many banks have little or no appetite for getting involved with a coin with so many money laundering challenges."

Lack of regulation is seen as a threat. Since September, such as China, South Korea has banned fund-raising through the launch of new digital currencies, and Russia's central bank has warned it will block access to websites offering virtual currency transactions.

However, there are also countries to support technology. At the end of September, Japan issued a document to make official digital currency transactions . The aim is to support technological innovation and protect investors from fraud by imposing specific rules, such as verifying the identity of users.

At 7:00 p.m. Thursday, Lisbon time, the value of the currency had dropped to 5930 euros. The peak, of 6270 euros, was reached at 11 am in Lisbon. Since then the value has suffered some oscillations, showing how despite the upward trend the volatility of Bitcoin is still great.



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