Bitcoin hit the $ 40K benchmark, doubling in less than a month
Less than a month ago, Bitcoin hit $ 20K per unit. He passed the $ 25 thousand mark five days after that and a few days later rose to $ 30 thousand. A few days passed and today this cryptocurrency has risen in price to $ 40 thousand. In less than a month, bitcoin has more than doubled in price, which is very similar to “bubble”. And, as often happens, numbers dancing in the eyes make many people forget their fear and invest in this cryptocurrency.
Cryptocurrencies and bitcoin, in particular, are characterized by strong volatility (volatility), which does not allow using it as a reliable financial instrument. Nevertheless, the inclusion of printing presses for money around the world in the form of supporting economies amid the coronavirus pandemic and adding fuel to the fire, coupled with the growing interest in cryptocurrency from serious financial institutions and payment systems, launched a new rally in Bitcoin last fall.
The result of panic, rumours and a whole series of oddities around the election of the new US president affected the growth of bitcoin in the most direct way. Bitcoin is seen as a “safe haven”, although everyone knows what kind of pool the devils are usually found in. According to experts, in addition to the desire to preserve accumulations, bitcoin is mainly attracted by criminals, since transactions in cryptocurrency are completely or partially opaque for the fiscal authorities.
Bitcoin’s role as a safe haven for finance is confirmed by the fact that the traditional resources for saving savings – precious metals – are now trading at near-record highs. As of this writing, the price of bitcoin on the CoinMarketCap exchange has rolled back to $ 38,691, while a few hours ago it climbed to $ 40,180.
