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The world’s most popular cryptocurrency jumped 2.6 percent. up to $ 52,932 (€ 43,630). Bitcoin is up 8 percent this week and around 60 percent this month.
The bitcoin rate is boosted by signs that it is gaining popularity among major investors and companies like Tesla, Mastercard, and BNY Mellon.
The latest price increase has raised the market capitalization of bitcoins, the value of the total bitcoin in circulation, to around 982 billion. dollars, according to data from the CoinMarketCap website. The value of all digital currencies in circulation is approximately 1.6 trillion. Dollars.
However, many analysts and investors are skeptical about this volatile and unevenly regulated digital asset, which remains underused for liquidation.
According to analysts at JP Morgan, current bitcoin prices far exceed the fair value estimate. However, the popularity of bitcoin increases the correlation of this cryptocurrency with cyclical assets that increase or decrease according to economic changes, which in turn reduces the benefits of investing in cryptocurrencies, the investment bank said in a statement.
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