Monday 23 August 2021
$ 50,000 mark cracked
Bitcoin is approaching old heights
After Bitcoin’s record high in April, there was a deep fall. The price collapsed by more than half at times. But in the end the digital currency is fighting its way back bit by bit. Negative headlines don’t seem to be holding back the recovery.
The price of the digital currency Bitcoin has risen above the US $ 50,000 mark for the first time since May. Most recently, a Bitcoin on the Bitstamp trading venue cost $ 50,299, a good two percent more than the day before. Since the interim low in mid-July, the price gains of the very strongly fluctuating crypto money now add up to almost three quarters. However, there is still a long way to go before Bitcoin’s record high of almost $ 64,900 in April. According to the Coinmarketcap website, the total value of all cryptocurrencies is now back over two trillion dollars.
The decision of the US trading platform Coinbase to increase its own stocks of cryptocurrencies provided additional momentum in the past few days. Most recently, the US payment service provider PayPal announced that it would offer more customers the option of cryptocurrency trading. Later this week, the company plans to launch the purchase, sale and possession of cryptocurrency in PayPal accounts in the UK as well.
Customers in the kingdom could choose from four currencies, it said: Bitcoin, Ethereum, Litecoin and Bitcoin Cash. The respective exchange rates would be indicated on the PayPal page. The corona pandemic has accelerated digital change and innovations in all areas of life, explained PayPal. The new offer should help people in Great Britain to “explore” cryptocurrencies. PayPal customers in the USA have been able to use digital currencies since March.
Negative news from the crypto industry, on the other hand, does not seem to be damaging the prices at the moment. For example, plans to extremely expand taxation as part of the new US infrastructure package had no effect on the Bitcoin price. Reports of spectacular hacks did not harm the market either.
Most recently, hackers stole around 97 million dollars (a good 83 million euros) in an attack on the Japanese cryptocurrency exchange Liquid. The Japanese trading platform temporarily suspended the withdrawal of cryptocurrency to assess the damage.
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