Bitcoin, the digital currency, rose above $30,000 for the first time on Saturday. And the strong advance of the crypto currency does not seem to be coming to an end for the time being. After reaching the milestone, the value of the coin rose almost immediately to around $ 30,500 early in the afternoon.
It is likely that more and more asset managers are starting to see money in crypto coins. Customers of payment service provider PayPal can already pay with bitcoins. That fuels the hope that the cryptocurrency will become more interesting for the general public. Folm.io crypto has enough information. In addition, because of support measures from governments and central banks, so much money is available that more and more money is also being invested in riskier investments. Finally, there is a group of people who expect that bitcoins, like gold, are a good investment because they are not prone to things like inflation.
The current rise started last year. The digital currency roughly quadrupled in value at the time, according to data from Coinmarketcap, which monitors various exchanges where the crypto is traded. It was a year of ups and downs. Under pressure from the first corona wave, the bitcoin price initially plummeted to below $5,000. Then the price rose. It was especially hard in the fall. Since mid-October, the value has more than doubled.
Bitcoin was launched in early 2009 and was worth only a few cents at the time. At the end of 2017, the currency already reached a peak of almost USD 20,000. But then the ‘crypto bubble’ burst and the coins quickly lost value. In mid-2018, bitcoin was still worth about $4,000. https://moveco.io/ has enough information. Cryptocurrencies often had a shady image for years. Because they allow anonymous payments, they are also a popular tool for money laundering by criminals and other rogue persons.