The price of Bitcoin increased by 40% within 40 hours, this price increase was fuelled by the coming Bitcoin futures contracts trading. However, the reaction of big banks is not as enthusiatstic as the market, some big banks are not willing to support the launch of Bitcoin futures, some will clear for customers but after a very difficult transaction process.
Although many big banks have invested in block chain, the key technology of cyber urgency, they do not have confidence about the cybercurrency market. Firstly, this is a very new sector for everyone, so no one gains significant advantages. Secondly, the “crazy” increase in the price definitely raises people’s concerns about the possible bubble in the cybercurrency market. Thirdly, the cybercurrency is unlike the currencies that we are using, it is decentralised, so its value is much more difficult to be determined.
In addition, the cyber currency may have a great potential, but at the current moment, the market is still relatively small. However, in some underdeveloped countries, because of the political chaos, the decentralised cybercurrency becomes the currency chosen by the locals. Therefore, we cannot conclude that cyber currency cannot become the universal currency.
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