Bitcoin exchange rate this year more than doubled

Bitcoin exchange rate this year more than doubled

Tech December 27, 2016 08:54

SAN FRANCISCO - The rate of the virtual currency bitcoin is already more than doubled this year. Friday was the value of the virtual currency just as the limit of $ 900, the Volkskrant reports.

One reason for the appreciation of the bitcoin is capital flight from China. China's central bank and the Chinese Ministry of Finance have imposed restrictions on the exchange of the Chinese currency yuan in foreign currencies such as the dollar, euro or yen. The capital control does not apply to virtual currency, hence the bitcoin is an attractive alternative.

The price of the bitcoin is very unstable. Huge rises alternate with big drops. Since the election victory of Donald Trump in the United States is the bitcoin on the rise. The value of the virtual currency rose soon after the US elections to 662 euros.

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