Bitcoin price has been on a roller coaster ride in June, but that hasn't stopped it from becoming a popular investment

【Abstract】 As more and more market participants try to gain returns from more asset classes, investors are now turning to investments that they had never considered before, such as digital currencies. As the price of Bitcoin has reached a 20-month high, market observers have begun to assert that the ability of digital currencies can attract new global traders.

As the price of bitcoin hits a 20-month high, market watchers are beginning to assert the digital currency’s ability to attract new global traders.
As more market participants seek to gain returns from more traditional asset classes, investors are now turning to investments they may not have previously considered, such as digital currencies.
According to Tim Enneking, chairman of cryptocurrency investment management firm EAM, the surge in digital currency prices a few weeks ago can be partly attributed to investors’ desire for yield.
“People haven’t gotten very high yields from any of the standard investment categories for a while,” Enneking told bitcoin news site CoinDesk. “They’re looking further afield for yield.”
Joe Lee, founder of derivatives trading platform Magnr, spoke about macroeconomic uncertainty, saying it was this uncertainty that caused some casual investors to start looking for alternatives outside of traditional currency and bond markets.
Against this backdrop, the price of Bitcoin has experienced a dramatic rise. At the beginning of last month, the opening price of Bitcoin rose from $538.14 to $591.03, the highest price in 20 months.
But it also faced greater volatility. Less than a day later, the price of Bitcoin fell to $563.15. A few days later, it once again broke through $590.
Last month, OKCoin traded 5.13 million, while Huobi traded 3.23 million.
Of course, the recent price volatility is also due to the increased attention paid to ether, with the digital currency increasing by more than 1,000% in the first quarter of 2016.
At the same time, investors are becoming more open to non-traditional assets, with Lee telling CoinDesk that digital currencies are increasingly viewed as a “robust investment class.”
This change means a huge change for some people.
Lee said bitcoin is “becoming more accepted” and some who refuse to accept it are being forced into hiding.