Cryptocurrencies are becoming more popular in everyday life, at least in Asia.
Image: Reuters
The digital currency costs more than $60,000 for the first time in more than two years. There is no end to the rally in sight, also because an important event for the crypto currency is coming up, which has already catapulted the price to new heights.
EThese are currently golden times for the digital currency Bitcoin: The all-time high of around $69,000 is likely to fall soon, the price rally is breathtaking: This year alone, Bitcoin rose from around $44,000 to around $62,500, a percentage increase of more than 40 percent corresponds. A year ago, Bitcoin was still trading at $21,000, so today the digital currency is almost three times as high.
There are many reasons for this, but ultimately they are all based on a simple economic principle: demand exceeds supply, prices rise. First and foremost is the launch of the first Bitcoin ETF in the United States. This exchange-traded index fund allows investors – initially only in the United States – to invest in Bitcoin without the risk of investing directly in the still controversial currency. And without having to worry regarding questions like choosing the right crypto exchange or having your own wallet (your own digital currency depot).
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