Bitcoins are reaching their all-time high: at the moment they travel far above $ 50,000 each. This period of financial strength has been going on for several weeks, driven, in particular, by the decisions of companies like PayPal (at the end of last year) and Tesla (who a few days ago bought bitcoin for $ 1.5 billion) that support virtual currency. An institutional validity that has pushed many users towards cryptocurrency.
“I believe that among the real reasons for the climb are the purchases of those who thought they had missed a train with the unexpected growth of December and are doing everything to enter the market in 2021“Mauro Masoni, senior sales manager of The Rock Trading, a platform for buying cryptocurrencies, explains to DDAY.it. Also the approach of financial intermediaries and large banks, such as Generali and Banca Sella in Italy and Bank of New York Mellon in the United States, “can only testify in favor and nerve strength in the sector“, according to Masoni.
Stability soon
It is not the first time that bitcoins have experienced a sudden increase. Each time, however, the value then dropped to settle on a figure that was still higher than the initial one, although lower than the apexes reached. Is it therefore to be expected that at some point the bitcoin rally will cease? Or is this time going to last? According to Masoni, presumably the value of bitcoins will settle between 45 and 60 thousand dollars. In any case, it feels physiological in the coming days “a consolidation pause and then a retracement“.
The extremely volatile nature of bitcoins – subject to strong rises and falls, even daily – has left the usual discussion open: can bitcoins really be a virtual currency or, as considered by many parties, they are the equivalent of a “safe haven” like them? “Although the basic idea behind the birth of bitcoin was to create a payment system without the presence of intermediaries to govern it, lately – Masoni answers – the original idea has failed and the idea of attributing to bitcoin a sort of defense against inflation and therefore a means of investment has taken hold. Personally I see it projected in this direction“.
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