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The record hunt for the digital currency Bitcoin continues into the new year.
On Saturday, the price on Luxembourg trading platform Bitstamp currently rose to $ 30,598.48, thus expanding the latest price gains. Meanwhile, the $ 30,700 mark was also broken. Since the end of September, the price has risen just over $ 19,000, or nearly 180 percent. Bitcoin is the oldest and by far the best known digital currency. Experts had recently estimated the market capitalization at around $ 550 billion.
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There is no adequate reason for Bitcoin’s further surge to the current high shortly after the turn of the year. However, for the latest surge, the market repeatedly claims that the digital currency has recently moved more into the focus of large financial investors and is in higher demand. Above all, the announcement of the PayPal payment service that it would allow its customers to pay with Bitcoins resulted in a huge increase in demand.
However, experts also warn of extreme price fluctuations that can be observed over and over again with Bitcoin. Three years ago, the rate of the digital currency collapsed to around 70 percent in no time.
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LUXEMBOURG (awp international)
