Bitcoin Hits Above $34,000

Bitcoin Hits Above $34,000

Bitcoin hits above $34,000.

Bitcoin, which experienced a rapid rally in the last period of 2020, broke a new record by exceeding the level of 34 thousand dollars on Sunday.

Bitcoin continued the rally that started in December, in the first days of the year and added a new one to its records.

Having broken through 20 thousand dollars on December 16, the very next day the rate followed the 21 and 22 thousand marks by express, setting an intermediate maximum at the level of 23.629 thousand per unit.

The cryptocurrency market continues to fly into the stratosphere amid the Bitcoin rally, which is updating all-time highs on a daily basis.

The new record level in crypto money was 34 thousand 42 dollars. Bitcoin, which regressed a little after the record, was trading at around $33,795.

After a short “respite” in the zone of peaks at the end of 2017, Bitcoin rushed up again and ends in 2020 with a series of absolute records.

In 2011-20, Bitcoin rose in price by 6.3 million percent, while, for example, investments in the Nasdaq brought 512% of the return, in large US companies – 254%, in long American government bonds – 124%, in debt securities of developing countries – 70 %, in EM shares – only 30%.

Bitcoin is receiving increasing interest from global portfolio investors, as well as from tech enthusiasts and speculators. Those who invest in Bitcoin argue that the digital currency is a good asset storage tool, even if inflation remains constant while central banks increase the money supply.

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