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The world’s most popular cryptocurrency broke the $ 35,000 barrier for the first time on Saturday and hit a record high of $ 35,879 the next day.
Regarding the reasons for the rise in the value of Bitcoin, the “Business Insider” website said investors continue to bet that digital currency is on the way to becoming a popular asset.
The rise in value of digital currency began at the end of last October with the launch of the electronic payments giant “Paypal”, a service for buying, selling and paying in cryptocurrencies.
In addition to this service for individuals, investment funds are increasingly interested in this asset, which is characterized by sudden price movements.
The importance of this currency is also due to the fact that it does not have a decision-making center, since it comes from a network launched by strangers in 2008 and is not affiliated with any financial institution.
David Grider, digital asset analyst, said the conditions are right for Bitcoin to appreciate, adding: “We believe 2021 will be closer to what happened in 2017, which means this currency will experience an equivalent assessment “.
He continued, “I expect the cryptocurrency to hit at least $ 40,000 next year … it will continue to rise dramatically over the next six months as continued demand leads to an increase in positive momentum. “
The value knows the formation of many fluctuations, because in 2017, its value approached a thousand dollars, then saw an increase in the following months before achieving a boom between mid-November and mid-December of the same year, this which resulted in a doubling of the value 4 times.
On December 18, 2017, its value rose to $ 20,000, in an event that was followed by a drop in prices throughout 2018 only to finally stabilize at $ 3,000.
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