The price of the world’s most popular cryptocurrency reached $ 33,099 on Saturday
The digital currency Bitcoin extended its record high on Saturday, starting the year with an increase of more than $ 30,000 for the first time, with more and more traders and investors betting that it is on its way to becoming a conventional payment method. The price of the world’s most popular cryptocurrency reached $ 33,099 on Saturday, with almost all other markets closed in the first weekend of 2021.
The latest high was around 12 percent to $ 32,883. Bitcoin advanced more than 300 percent in 2020 and, with the last highest step, added more than 50% since it exceeded $ 20,000 just two weeks ago.
The blockchain currency has only existed for a decade or more, and in 2020, it saw the demand of major US investors grow, attracted by its protective qualities against inflation and the potential for quick gains, as well as expectations that it would become a payment conventional method. Investors said the limited supply of bitcoin – produced by so-called “mining” computers that validate blocks of transactions competing to solve mathematical puzzles – has helped fuel upward movements in recent days. Some also saw it as a safe haven during the gold-like pandemic COVID 19.
“It is very likely that the asset will end up exceeding $ 100,000 per currency,” wrote Sergey Nazarov, co-founder of Chainlink, a global blockchain project, in an email on Saturday.
“People have been losing faith in government currencies for years, and the monetary policies resulting from the economic impact of the coronavirus have only accelerated this decline.” It is traded on several exchanges, the largest of which is Coinbase, which is preparing to go public and become the first platform of its kind to be listed on Wall Street. The cryptocurrencies of several competitors use blockchain technology or similar electronic ledger.
Ethereum, the second largest, gained 465% in 2020 and rose almost 7% on Saturday.