At the beginning of May, the bitcoin exchange rate fell from CZK 915,200 to CZK 646,750. And they kept virtual coins at a rather lower rate practically for a whole month. Last week, on Tuesday, the exchange rate was only CZK 652,800.
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At the beginning of this week, however, the value began to grow significantly again, rising from CZK 666,620 on Sunday morning to CZK 705,730. And the gradual growth continued despite small fluctuations in the next two days. On Wednesday, bitcoin was trading for CZK 736,170.
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Development of bitcoin value over the last week.
The exchange rate is thus slowly approaching the values from last July, when one virtual coin was offered for CZK 783,430. However, it is necessary to add that in November the value was even CZK 1,473,090, which is an absolute record so far.
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Other cryptocurrencies are slowly recovering from the May slump. For example, ethereum was traded a month ago for CZK 66,250, and in mid-May for only CZK 44,030. At the end of last week, the exchange rate was CZK 40,940, on Wednesday it was already CZK 44,690.
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It is necessary to emphasize that virtual currencies do not have a uniform price, they are traded on stock exchanges and exchange offices depending on volatility (an estimate of the rate of value fluctuations over time). Differences in prices can vary in the order of several thousand crowns.
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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 established in 2009, but have enjoyed greater popularity in recent years. This currency was designed so that it could not be influenced by any government or central bank.
Cyber coins are “minting” a network of computers with specialized software programmed to release new coins at a steady but declining pace. The number of coins in circulation is expected to reach 21 million in the end, which is to be around 2140.
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