Following the event this month, the assassination of Russian Ambassador, the recent Berlin attack and the conflict in Aleppo has shaken the social stability across the globe.
Predictably, amongst other things, the global markets witnessed a radical shift as Bitcoin rose and gave competition to the regular currency and stoke markets indexes. Previously called as an unreliable source of money, Bitcoin reached its 3-year high and claimed a 15 percent leap to $900.40, taking its annual gain to 107 percent.
Initiated in 2009, Bitcoin is first of its kind cyrptocurrency. As cryptocurrency does not stick much to federal monetary and regulatory principles, it is been considered as an acceptable alternative for buyers who seek to ensure their assets.
Amongst all the situations in the World, Donald Trump win and increasing competition in the market, cryptocurrency is likely to gain popularity in 2017. Professionals at Juniper Research stated that:
If the global market grows more turbulent in the months ahead (which is quite likely), people may start ditching their traditional currencies in favor of bitcoin. This will lead to increased use of bitcoin, and as more people use the currency, demand for it will rise, and prices along with it.