Digital Currency High: Bitcoin Rally Continues Into The New Year – News

• The value of the digital currency Bitcoin continues to rise. One Bitcoin was worth $ 30,958 on the Luxembourg trading platform Bitstamp on Saturday afternoon. This was the first time the coin had risen above the $ 30,000 mark.
• Just a week ago, the digital currency passed the $ 25,000 mark for the first time.
• There are large fluctuations in the rate of Bitcoin. In early 2020 the value was $ 8,000, after which it fell significantly during the pandemic.

One of the reasons for the recent surge in Bitcoin is that large investors, such as pension funds, are also becoming increasingly interested in it. Bitcoin has a market share of almost 70 percent, making it by far the largest digital currency.

With this renewed surge, the price of Bitcoin has risen another $ 2,000 or seven percent since the start of the new year. Record levels may differ in other trading venues, as there are no core Bitcoin operations.

The increase accelerated in the fall. Since the end of September, the price has risen more than $ 20,000 or nearly 190 percent. Experts had recently estimated that Bitcoin’s market capitalization was around $ 550 billion.

Increase demand thanks to PayPal

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. Interest in digital currencies is also increasing due to the corona pandemic and the associated sharp increase in national debt. Therefore, some investors fear an increase in inflation in the medium and long term, against which they want to protect themselves with alternative investments. However, experts also warn of extreme price fluctuations in Bitcoin.