By December, the price of Bitcoin could grow to $ 900 - analysts

UK decision to withdraw from the EU market knocked out of the economic rut, pushing growth to alternative assets. Analysts at British broker IG Group suggest that by December the price of Bitcoin could rise to $ 900.
Reported ForexMagnates.
Head of analytical department of the IG Group Chris Bushom analyst Josh Mahoney consider it quite likely scenario where Bitcoin will grow by 35-40% in comparison with today's performance. According to them, investing in tools such as Bitcoin and gold, may be considered by some security islands in the stormy ocean of the British pound and European currencies in general.

"The foreign exchange market reflects reality and is currently the best indicator of the economic response to Brexit, demonstrating the unattractiveness of Europe at this stage. Now to the new conditions must adapt and central banks. Apparently, the Bank of England's monetary policy will remain accommodative in the coming years. At present forecasts show with a probability of 87%, the Bank of England cut rates in August, as well as its European counterpart of the ECB. Thus, regardless of the economic consequences of further (Brexit - Ed.), The pound will continue to weaken at least due to lower interest rates. "

Analysts remind that the desire to reduce the risks inevitably leads to diversification. With this in mind the continuing high volatility and lower income from traditional assets may well push alternative assets.

"Gold is likely to continue its upward trajectory and go up to the end of the year another 13%, however, as well as silver. Moreover, the popularity of alternative currencies revived after the 2014 bubble burst, and Bitcoin is particularly interesting in the near future. Already, the first Bitcoin has risen in price by 55%, and the fall of the pound effect can raise it to a height of $ 900 by December, "- believe in the IG Group.

Recall, the pound last week updated 31-year low against the dollar, and the British currency volatility even for some time exceeded the volatility of Bitcoin.
Meanwhile Bitcoin, trading most of the time after halvinga held on Saturday at around $ 645, the day before showed a slight increase, reaching a point at $ 679.9. At the time of publication cryptocurrency traded at around $ 667.