2016/07/18 5:00 AM
The bitcoin price has risen to $679 at press time. Following a two-week period of jumping and falling, bitcoin’s price is on the verge of $680. That’s a $15 increase from our last price piece.
Also read: Could Trump Cause a Spike in the Bitcoin Price?
Regional Forces Pushing Bitcoin Price Higher
Several sources have stuck with bitcoin, claiming that a sudden rise is inevitable. Several charts have singled bitcoin out for a monster breakout, and analysts point out bitcoin’s competition against printed fiat currencies, which are vulnerable to inflation and related problems.
Erik Grill of Coinoutlet explains:
“There is a limited supply of Bitcoin, and recently that supply has been reduced, while the demand continues to rise. Bitcoin is typically traded against currencies that continue to increase in supply (printing more money) which will make the value of bitcoin relative to these currencies’ increase in value over…