[2018-04-15]Bitcoin Price has Risen After its Recognition to the Norms of Islami

[Vladdirescu87]

Bitcoin Price has Risen After its Recognition to the Norms of Islamic Money

Bitcoin and other altcoins have unexpectedly risen in value. The change is seen to be associated with the publication of research stating that digital currencies correspond to the norms of Sharia, the religious law forming part of the Islamic tradition.
On Thursday, the start-up of Blossom Finance, with mufti Muhammad Abu Bakar at the position of an adviser, published a study according to which bitcoin is recognized as Islamic money, if the local government does not ban the use of such financial technology. The study provides evidence that trading coins do not contradict Sharia law that prohibits partially surfaced banking transactions. However, the study said that ICOs were very vague and they were not recommended to Muslims.
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/bitcoin-price-has-risen/

[dE_logics]

Not sure if the decision of one Islamic cleric had that big of an effect. But hopefully, it starts a trend and other Muslim clerics get on board with it. Here's hoping.

[gentlemand]

No one cares. I'm your average Islam would already be involved.

And there'll be another cleric along in a few minutes bellowing 'Haram'.

As ever the Islamic world is purposefully crippling itself with its fondness for people in the sky.

[hatshepsut93]

People always look for some recent positive events when they try to explain why Bitcoin has recently increased in price, but it just doesn't work like that - the fact that in other cases similar events don't affect the price shows that the correlation is very weak or non-existent and this is just a coincidence. The real reason why Bitcoin is growing in price is because it's technology is working, it's stable and reliable, yet at the same time it continues to improve.

[buwaytress]

So I guess all it'd take now for Bitcoin to moon is if the Vatican buys the pope a Bitcoin hardware wallet to receive alms? Or maybe the Dalai Lama to advocate for suffering-free currency?

Been a long time since I saw religion take the credit for something like this, I suppose the expert analysts must really be clutching at straws now to find the reasons to explain the inexplicable. If you only knew how Muslims actually treat these rulings...

[Vektrum]

That is, some believe that bitcoin began to grow slowly in price (and now its cost, according to CoinMarketCap, is 8,359 dollars), due to the fact that a religious study has been published that bitcoin and other crypto currency is in compliance with Sharia law, and Muslims therefore began to massively buy bitcoin and other crypto currency? Although it is hard to believe that this was the cause, let it be so. If only the crypto-currency market began to rise. Now the prices of all the coins have really turned green.

[MaydayMayday]

People always look for some recent positive events when they try to explain why Bitcoin has recently increased in price, but it just doesn't work like that - the fact that in other cases similar events don't affect the price shows that the correlation is very weak or non-existent and this is just a coincidence. The real reason why Bitcoin is growing in price is because it's technology is working, it's stable and reliable, yet at the same time it continues to improve.

yep, community seeks for a reason, but sometimes there is no reason, just rise, that's it

[Hammond ltd]

I', not sure that these two things are connected between each other, but nes about rise of bitcoin makes me feel satisfied and happy =)

[dark1234]

I', not sure that these two things are connected between each other, but nes about rise of bitcoin makes me feel satisfied and happy =)

I think this is a piece of news that can also lift the value of bitcoin  as we know Islam is an influential religion in the world whose followers include the most widely in the world when a Muslim intellectual figure gives explanations / fatwas about the permissibility to use, and trade bitcoin then this will grow new Muslim investors who initially hesitated thus the value of bitcoin grows and rises as it is now

[TravelMug]

Isn't it bitcoin has no boundaries? Then why the hell religion is one factor that brought the current price surge. I'm sure that there are Muslims around the world really into crypto and this news just validated after it was validated by their religion. I'm sorry but I'm not totally sold on this reason why bitcoin suddenly bounce back. There are reason behinds that we will soon gonna find out.

[CryptoBry]

People always look for some recent positive events when they try to explain why Bitcoin has recently increased in price, but it just doesn't work like that - the fact that in other cases similar events don't affect the price shows that the correlation is very weak or non-existent and this is just a coincidence. The real reason why Bitcoin is growing in price is because it's technology is working, it's stable and reliable, yet at the same time it continues to improve.

I believe on the same thing. It would be easy to ascribe anything to something that recently transpired though I believe that not a single factor pushed the value of Bitcoin higher. This has been the type of a movement in Bitcoin that we have also seen last year. In fact, there were times when Bitcoin rose and also dipped for no reason at all. This time around, I guess that the market has already realized that it is about time to make some rebounds.

[prehisto]

People always look for some recent positive events when they try to explain why Bitcoin has recently increased in price, but it just doesn't work like that - the fact that in other cases similar events don't affect the price shows that the correlation is very weak or non-existent and this is just a coincidence. The real reason why Bitcoin is growing in price is because it's technology is working, it's stable and reliable, yet at the same time it continues to improve.

I agree that people like to look for news events and correlate them with price changes and it  is not true in part of the cases.
but  on the other hand i do not agree with you about the tech part.

The jump was anticipated by some good part of TA.
I believe that mostly that price fluctuations are more psychological phenomenon than anything else.