The most important cryptocurrency, Bitcoin, has cracked the $ 20,000 mark and hit a record high. The fluctuations remain high.
The cryptocurrency Bitcoin is more expensive than ever. The oldest and most important cyber currency crossed the psychologically important mark of $ 20,000 on Wednesday and rose by more than four percent to a record high of $ 20,269. At the end of 2017 and in the past few weeks, Bitcoin had failed several times on this threshold. Bitcoin is becoming an investment alternative for more and more investors in order to hedge against risks in other areas, says analyst Timo Emden from Emden Research. "In addition, companies are increasingly flirting with the implementation of digital currencies, while the central banks, the Fed and the ECB, are thinking about introducing their own e-currencies."
The most important digital currency in terms of market volume had fluctuated violently in the past few weeks (see Bitcoin chart). There was a wild record hunt at the end of 2017. At that time, the drastic price increase was followed by an equally drastic price decline. Bitcoin proponents now name a few reasons for their hope for more stability. The payment service Paypal had given Bitcoin a kind of accolade by announcing payment with Bitcoin and Co. It is also stated that professional investors such as asset managers are increasingly interested in cryptocurrencies, which at least makes short-term price capers less likely. Since the beginning of October alone, its value has almost doubled.
