Bitcoin's amazing week: "It crashed and then it un-crashed!"
Clem Chambers, Founder & CEO of ADVFN gives a brief overview of Bitcoin in the last week. How "it crashed and then it un-crashed!" Clem describes the last week as "amazing" with the ups and downs of the Cryptocurrency. It only just went back up to its previous highs after its crash. Clem suggests that this is the people in Asia who are buying heavily into Bitcoin and may have something to do with Korea. In particular, people in Japan and South Korea are stocking up on it "as if it were Gold" to prepare for whatever may happen with North Korea. Clem believes a lot of people in Asia are using the Cryptocurrency like Gold at the moment. Clem also mentions that there are a lot of sellers in America and the UK. The price has gone from 13,000 down to 9,000 then back up to around 11,000/12,000 all in one week! An extremely exciting time for Clem.
Clem Chambers mentions the Bitcoin divide between people who get it and those who don't. Those who don't thinking the other side are mad for either believing in it and vice versa. The British government are now starting to "get Bitcoin" and moving into regulation of the Cryptocurrency. This is good news for the Cryptocurrency as it means normalisation, and this normalisation will bring a lot more value to the currency.
What people who don't use Bitcoin do not understand is that it is better money, according to Clem. Clem lists some examples of how the Cryptocurrency has been more efficient for him in international transactions of significant size.
Clem also shares his opinion with viewers on what the futures exchange could mean for the main Blockchain currency.
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