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Bitcoin’s price surpassed the $ 34,000 level during Sunday’s trading for the first time in light of growing interest from distributors and investors who believe it is on its way to becoming a predominant payment method, according to the cryptocurrency exchange. Bitstamp.
With the arrival of Bitcoin at this level, a digital currency in Bitcoin is worth almost half a kilogram of gold.
And the price of the most popular cryptocurrency in the world was quoted at $ 32,565, after it crossed the level of $ 30,000 for the first time in its history at the beginning of the day on Saturday, then at $ 31,502, in the middle of the day the same day.
Historic record numbers
In 2017, the value of Bitcoin approached $ 1000, then witnessed a surge in the following months before reaching a boom between mid-November and mid-December 2017, reaching close to $ 20 thousand, but began its downhill path after that.
In early 2020, the price of Bitcoin equaled $ 8,000, but then dropped to $ 4,000 when the Corona pandemic broke out in the spring..
Within 3 months of trading, the virtual currency Bitcoin broke the historical prices recorded in December 2017 by $ 19,000, amid a global increase in demand..
The value of the oldest and most popular virtual currency among cryptocurrencies and the most widespread in the world crossed the threshold of $ 20,000 for the first time on December 16, 2020, before ending last month at $ 29,000..
Causes of the mutation
Investors in cryptocurrency were not expecting an improvement in the price of virtual currencies, but rather a break from previous historical prices, during the current year, which is the most economically and financially complex in several developed and developing economies.
