20 Oct 2023 at 14:53
The value of bitcoin rose above $30,000 (about 28,300 euros) on Friday for the first time since July. The rise of the largest cryptocurrency comes in a week in which the values of digital currencies have fluctuated considerably.
Traders paid a maximum of $30,022 for one bitcoin earlier on Friday. That was 4 percent more than earlier in the day. Compared to the beginning of the week, there has been an increase of even 10 percent.
Analysts that news service Reuters consulted cannot give a precise reason for the increase. However, there is certainly unrest on the financial markets this week, partly due to the fighting in the Middle East.
Another factor may be that many investors expect interest rates to remain high for longer to curb inflation. What happens to interest rates often affects investments.
Despite the recent rise, the value of bitcoin is still far from reaching the record high of $64,000 two years ago. The price of the currency has plummeted, partly due to the many interest rate increases and the collapse of various crypto exchanges, including FTX. In November last year he even dipped below $16,000. Since then, Bitcoin has bounced back.
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2023-10-20 12:53:49
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