“The bitcoin rate has once again broken through the ceiling this year and set a record value,” the expert explained.
In his opinion, such volatility in the dynamics of cryptocurrencies is associated with chaotic waves in the money markets.
Zabortsev said that "the uncontrolled and incessant emission of money by the largest central banks in the world has generated huge financial assets that are now looking for use."
“They break through to the stock market, supporting indices, then to the commodity markets, providing price rallies primarily for commodities, then, here, into the cryptocurrency markets,” the economist said.
He added that financial speculators "are constantly looking for opportunities to use their assets and their more or less synchronous actions generate such waves."
“It is worth noting that bitcoin is growing now, despite fundamental negative factors for it, such as restrictions on circulation and tightening of regulation.
This once again confirms to us that the market is overheated, and this is a price bubble, "the interlocutor of RT concluded.
Earlier it was reported that the cost of bitcoin exceeded $ 65 thousand on October 20.