It all began when Bitcoin strangely added $500 on April 2nd following a rumour that the SEC was finally authorising the trading of 2 Bitcoin-based Exchange-Traded Funds. This happened after a report the day before in the Wall Street Journal, which claimed that 95% of Bitcoin trading is artificial.
But there is more to the story than meets the eye, and the prank wasn’t the only reason for Bitcoin’s sudden rise.
Now, That’s What We Call BOLD.
The April Fool’s day prank was more than bold – it was a challenge to the very financial infrastructures that cryptos threaten to undermine – banking and otherwise. Already, agreements are being put into place that strengthen its function as an every-day payment medium.
The infamous Wall Street Journal report revealed a possible collaboration between a US-based Crypto exchange ‘Coinbase’ and the UK payments processor, ‘PaySafe’. They plan to launch a new Visa debit card that will enable customers to make payments directly from their crypto accounts throughout the European Union!
A week later, we heard that customers would soon be able to pay for purchases on eBay using the ‘Moon’ payment processing company. And now, JPMorgan has expanded its blockchain project for interbank transfers to service over 200 branches.
Spreads Are Dropping
We’re not quite back to the golden age of last year’s fourth quarter, but alongside values, trading volumes are also increasing, and spreads are narrowing.
Always leading the trend, AvaTrade already reduced its spreads by 50% in September of last year. And now, we’re dropping them by another 33%!
This change reaffirms AvaTrade’s position as an industry-leading broker with some of the best trading conditions on the market, including ultra-low spreads, cutting-edge platforms, and professional service and support.
Leading Across the Globe …and Beyond!
Regulated by six regional authorities across the globe, AvaTrade has maintained its position as being one of the most trusted companies in the industry since its inception well over a decade ago.
By maintaining its integrity in a swiftly developing environment, AvaTrade has been consistently enhancing its presence throughout Europe, Asia, South Africa and now also North America. And with its leadership role in cryptos, as well, AvaTrade is conquering Cyberspace, as well.
Open your trading account at AvaTrade or try our risk-free demo account!