Despite Speculation, Bitcoin Accumulates 100 Percent Gains in 2019 over 2018

RIO DE JANEIRO, BRAZIL – Despite a scenario of much skepticism, 2019 was a year of gains for bitcoin. To date, this year the cryptocurrency has accumulated a rise of 110 percent (real exchange rate), according to XDEX data, which, according to the company’s CEO, César Tashiro, is partly due to the number of large stock markets introducing margin trading procedures.

“The adoption of margin trade has allowed users to leverage trading, tripling or quadrupling their volumes, or even much more than that,” explains Tashiro.

Margin trades are procedures that allow for financial exchanges between experienced traders in the market. Basically, traders “lend” money to each other to conduct trades with greater leverage, and return the amount when the trade is completed.

The notable appreciation of cryptocurrency this year comes in the wake of a sharp drop recorded in 2018, when bitcoin depreciated up to 66.01 percent, reaching the level of US$3,236.76 at its year minimum, according to CoinMarketCap data.

For Tashiro, however, the year was symbolized as a moment of buying bitcoin at a very low price, benefiting those who believed in the recovery of the cryptocurrency.

According to Tashiro, another factor that helped in the valuation of bitcoin in 2019 was the creation of other cryptocurrencies, which provided greater visibility to the market. “Projects such as Facebook’s Libra helped with the advertising of cryptoactive products, helping more and more to build a greater positive feeling regarding the blockchain and its features,” he says.

For 2020, Tashiro retains an optimistic view of the cryptocurrency market. “We believe that the benefits will continue to follow the same line as in 2019. Other projects within the blockchain will attract publicity to the segment, which is good not only for Bitcoin, but also for all other altcoins,” he says.

Source: InfoMoney