currency
BITCOIN
-2.74%
Base:39,678.57
opening:0
Tall:40,402.46
low:36,388
change:–
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Traded for the first time over $ 40,000 – an all-time record. This record was set 12 just after the launch of the virtual currency – in October 2009, with the start of trading on the first crypto exchange, 1,309 bitcoins were sold for one dollar.
There is really no economic reason for the price of Bitcoin. There may be psychological reasons, there is concern about the markets and people are pouring money into Bitcoin which is perceived as a currency whose value is rising; Bitcoin is also in demand against the background of political uncertainties, since it is the currency of everyone and not of a country, but it is impossible to produce from infinity to infinity. It’s dangerous, it could be one of the big bubbles here.
Earlier this week, the cryptocurrency fell by no less than 10% to a price of about $ 30,000, after trading at record levels of $ 34,000. Anyone who thought that this was the end of the currency’s crazy rally for the time being was quickly deceived, as mentioned, when Bitcoin returned to record more records. In the whole of 2020, the value of the currency rose by about 300%, and in December its value began to jump significantly, when it crossed the $ 20,000 threshold, a record of about three years, and has since continued to rise, when in December it rose by 54%.
Among other things, what leads to an increase in the price of digital currency is the entry of new investors who use it as a means of hedging, against the background of the massive Federal Reserve printing of money in the United States and the European Central Bank. Another factor that fuels bitcoin prices is its adoption by the PayPal payment service.
In an interview with BizPortal, Eli Mizrah, founder and CEO of Silver Castel, which provides an opportunity for qualified and institutional investors to enter the bitcoin world, said that “the increase in the current year is due to the inflow of institutional funds to purchase digital currency.” Dollars, as well as the firefighters’ pension fund and Harvard University’s investment portfolio.
This week, bullish investor David Rosenberg told CNBC that “based on our market value research, Bitcoin along with the entire stock market is priced at up to 30% of its true value.” He added that “as long as the Fed continues to support markets we will not see the bubble burst.”
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