At the end of April, Bitcoin strengthened to over 1.6 million crowns and climbed to new records. It was mainly supported by the appearance of Donald Trump, who pledged to make the US a cryptocurrency superpower if he is elected US president.
Since the beginning of the month, however, the most famous cryptocurrency has practically only been losing. Exactly one week ago, bitcoin was traded for CZK 1,629,311, but on Monday the value dropped to CZK 1,150,301. The value therefore fell by almost half a million crowns.
Trump has completely turned around, he wants to make America a bitcoin superpower
Internet a PC
The development of the value of Bitcoin in the last week
The big sell-offs were caused by panic in the markets about the coming American recession, which also had a negative effect on the stock markets.
However, the bitcoin exchange rate is still higher than at the beginning of this year, because in January the most famous cryptocurrency in the world was offered for CZK 946,227. So far, bitcoin set an absolute record in March this year, when one virtual coin was traded for CZK 1,704,367. Investors became much more interested in the cryptocurrency after 11 bitcoin ETFs were approved in the US in January – the acronym ETF stands for exchange-traded fund.
The development of the value of Bitcoin in the last month
Ethereum is also falling
Other cryptocurrencies also weakened significantly, for example ethereum had a value of CZK 79,431 a week ago, but currently it is only CZK 50,449. This is even lower than at the beginning of this year. At that time, the second most famous cryptocurrency was offered for CZK 51,890.
The absolute record was set in November 2021, when it traded for CZK 104,970.
Bitcoins and other virtual currencies
There are many virtual currencies. One of the oldest and currently most popular are the so-called bitcoins. They were created as early as 2009, but have enjoyed greater popularity in recent years. This currency was created so that it cannot be influenced by any government or central bank.
Cybercoins are “minted” by a network of computers with specialized software programmed to release new coins at a steady but ever-decreasing rate. The number of coins in circulation should eventually reach 21 million, which should happen around 2140.
The rocket growth did not come, after the approval of the ETF, ethereum weakened
Internet a PC
