FXTM information and reviews
FXTM
95%
OctaFX information and reviews
OctaFX
94%
XM information and reviews
XM
93%
FXCC information and reviews
FXCC
92%
Libertex information and reviews
Libertex
91%
HFM information and reviews
HFM
89%

Bitcoin Interview - James Trescothick


James Trescothick easyMarkets Senior Global Strategist


On Friday we saw Bitcoin trade at its highest price since it was first introduced, reaching an unprecedented 5863.93. For the readers that are unfamiliar, Bitcoin is a cryptocurrency (which means currencies that are not regulated by central banks, nations or other regulatory authorities) introduced in 2009. Its inventor is still shrouded in mystery known only by the name Satoshi Nakamoto, but his/her identity is completely unknown otherwise. It is a completely digital form of currency held in digital wallets – you can purchase Bitcoin with credit/debit cards, bank transfers and more recently through ATMs which take cash for Bitcoin.

Today we speak with easyMarkets Global Strategist James Trescothick, looking for a bit of insight into the movement of this cryptocurrency, how it climbed to its record high and what we may happen in the future.

Forex-Ratings

Hello James, thank you for having this interview with us today, tell us a little about what your role is at easyMarkets and a little bit about your experience in the financial industry.

James Trescothick

My pleasure, I am easyMarkets Global Strategist, but I also produce educational videos and content for the company due to my experience. I also present and conduct seminars globally and organize webinars for our customers. I have 20 years experience in the financial service industry most of this time was spent working within the Mediterranean and Middle Eastern region.

Forex-Ratings

So James, as an experienced professional in the financial industry how do you see Bitcoin?

James Trescothick

I feel that Bitcoin has been a disruptive market, decentralized and unregulated it’s not as dependent on macroeconomics as some other currencies are. For example when the ECB has meetings – markets respond, when the Fed has meetings, you might see the results affect the dollar. Without a central bank though there’s nothing policy-wise at least to affect the cryptocurrency.

Forex-Ratings

So is Bitcoin’s price completely immune from geopolitical events?

James Trescothick

Absolutely not, in fact we saw investors treat it as a safe-haven during the recent frictions between the U.S. and N. Korea pushing it up to a substantial 4362.51. This may have also been a factor in Bitcoin surpassing safe-havens such as gold on Friday.

Forex-Ratings

Do you think that Bitcoin is a new defacto safe haven?

James Trescothick

At the moment, it is far too volatile to be considered as such. If you notice the fluctuations that Bitcoin experienced since the beginning of the year, it’s prices sound like they are from multiple currencies not the same one! It started out 2017 at $1025.48, dropping to $796.41 just a few months later and reaching $5863.93 last Friday.

Forex-Ratings

That was very insightful James, thank you very much.

James Trescothick

My pleasure!


https://www.smartinvestor.barclays.co.uk/invest/investment-insight/investment-ideas-and-strategies/common-safe-haven-investment-myths.html

https://www.theguardian.com/technology/2017/sep/13/from-silk-road-to-atms-the-history-of-bitcoin

http://time.com/money/3599525/beware-safe-stocks/

http://www.rathbonewarwick.com/safe-havens-volatile-market/


Risk warning: Forward Rate Agreements, Options and CFDs (OTC Trading) are leveraged products that carry a substantial risk of loss up to your invested capital and may not be suitable for everyone. Please ensure that you understand fully the risks involved and do not invest money you cannot afford to lose. Our group of companies through its subsidiaries is licensed by the Cyprus Securities & Exchange Commission (Easy Forex Trading Ltd- CySEC, License Number 079/07), which has been passported in the European Union through the MiFID Directive and in Australia by ASIC (Easy Markets Pty Ltd -AFS license No. 246566).

Share: Tweet this or Share on Facebook


Related

How to Change A Life in One Year: A Trader's Success Story
How to Change A Life in One Year: A Trader's Success Story

"Nothing is impossible," is a phrase we often hear others say. To some extent, it is true because success is something that can be built. For the past 12 years, FBS witnessed many success stories...

Importance of Money Management and Bitcoin Targets
Importance of Money Management and Bitcoin Targets

Rather than another soulless interview talking nothing but technical analysis and wealth, as we approached Lisa N. Edwards, we stumbled across her website to learn more...

Manager of the legendary Moriarti PAMM account
Manager of the legendary Moriarti PAMM account

Many people already know that the Alpari PAMM service has registered a new record. One of the PAMM accounts showed a return of 166,700%. This result was...

Trial and error works best on Forex
Trial and error works best on Forex

Interestingly enough, our clients manage to find a creative approach even to such a mathematically precise area as trading. Often traders find simpler...

Goutam Das: a success story
Goutam Das: a success story

For hundreds of thousands clients of Grand Capital, communication with their personal manager is an inalienable part of their trading process. heed their...

Blockchain can become an alternative
Blockchain can become an alternative

On December 27th, the Central Bank of Russia revoked licenses of five Forex dealers, among them are three major market players who had...


Editors' Picks

FXCM information and reviews
FXCM
87%
ActivTrades information and reviews
ActivTrades
86%
RoboForex information and reviews
RoboForex
85%
MultiBank Group information and reviews
MultiBank Group
84%
FxPro information and reviews
FxPro
83%
Vantage information and reviews
Vantage
83%

© 2006-2022 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.