Swedish company predicts rise of bitcoin price
XBT Provider, the company that launched the world's first bitcoin-backed traded note on a regulated exchange, expects BTC price to rise due to the decline in global asset classes and I trust to fiat currencies.
The instability of Chinese stock market and growing concerns about the Chinese economy slowdown are among the main factors that boost the bitcoin price, XBT Provider Marketing Manager Christoffer De Geer told the Bitcoin Magazine.
“Another major factor is the decline in global asset classes, commodities and stocks, and the rising fear of investors for global economic slump,” de Geer believes.
He also noticed that the decline in bitcoin’s price volatility has a positive influence on the cryptocurrency liquidity, investors paying more attention to the bitcoin advantages against fiat currencies.
According to De Geer, “the private blockchain hype will translate to higher bitcoin prices at a later stage.” He also recalled the statement of the world-famous investor Marc Faber, who in his January speech said that bitcoin had been the only asset that performed well in 2015.
XBT Provider started trading bitcoin exchange instruments on Nasdaq Stockholm in April 2015. The first bitcoin-based security is called Bitcoin Tracker One. The instrument is positioned as an easy and secure way to invest in cryptocurrency. Last October, XBT Provider launched its second bitcoin-backed security, called Bitcoin Tracker Euro. It became the most popular exchange-traded note on Nasdaq Nordic. The Swedish company claims to expand globally, following its products’ success on Nasdaq Nordic.