Bitcoin crosses $ 30,000 for the first time in its history

Published on : 02/01/2021 – 14:38Modified : 02/01/2021 – 14:44

Bitcoin, the first decentralized cryptocurrency, has seen its price soar in recent weeks.

At around 2 p.m. KST on Saturday, bitcoin was worth $ 31,502.77, according to data compiled by the Bloomberg agency.

He had crossed for the first time the threshold of 20,000 dollars last December 16 and had reached new records in recent days, approaching the $ 30,000 mark.

« Appetite for risk “Which is reflected in the purchases of this cryptocurrency” remain indomitable Germany-based independent analyst Timo Emden, director of Emden Research, said in a note. For him, “ in view of the price dynamics, more historical highs could follow ».

The recent boom started at the end of October with the launch of a purchase, sale and payment service in cryptomonnaie by online payment giant Paypal.

The interest of investment funds

In addition to this service intended for individuals, investment funds are increasingly interested in this asset in sudden price movements, although they have long been wary of it.

« Many private investors do not dare to approach yet and remain on the sidelines », Recalls Timo Enden.

However, analysts from the US bank JPMorgan recently estimated that “ the use of bitcoin by traditional investors is just beginning »: They compare digital and decentralized currency to gold.

► To read also: Will bitcoin be the safe haven of the 21st century?

Other reputable Wall Street bank analysts like Citi have started to follow the cryptocurrency price.

Dizzying variations

For many followers of bitcoin, the latter draws its appeal from its decentralization: created by a network itself invented by anonymous people in 2008, it does not depend on any institution.

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Not being backed by any asset or the economy of any country, the price of bitcoin has however observed dizzying variations.

► To read also: Bitcoin: a decade of success and turmoil

So in 2017, it started the year at less than $ 1,000, then saw its price soar over the months before a real surge between mid-November and mid-December, when prices had quadrupled in less than a month. After peaking near $ 20,000 on December 18, 2017, prices then melted throughout 2018, ending that year at just over $ 3,000.

(With AFP)

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