For the first time in history, bitcoin’s price exceeded the mark of 34 thousand US dollars. Such a rate on Sunday, January 3, was shown by the Coinmarketcap website based on data from 20 exchange platforms where the cryptocurrency is traded. This is almost a fivefold increase in a year-bitcoin began 2020 with a value of just over $ 7,000.
The bitcoin exchange rate soared immediately by 12% on the first trading day on January 2 — by the evening, it had already exceeded the mark of 33 thousand dollars.
Reasons for the growth of the most popular cryptocurrency
The bitcoin exchange rate began to grow in March amid news of the coronavirus pandemic and falling oil prices. It began to increase rapidly in late October when the payment service Paypal announced its readiness to work with cryptocurrencies and announced that it would accept them as a means of payment from 2021, the AFP news agency notes. In mid-December, the bitcoin exchange rate broke the mark of 20 thousand dollars, which it last approached in 2017.
Simultaneously, some experts believe that a correction of the bitcoin exchange rate may occur soon. As reported by the American business publication Forbes with reference to analysts Token Metrics, bitcoin can fall in price to 14 thousand dollars.