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Money Bitcoin climbs to its highest level since the beginning of 2018

11:30  28 october  2020
11:30  28 october  2020 Source:   finanzen.net

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Bitcoin is approaching levels not seen since just after the burst of the cryptocurrency market bubble almost three years ago. If it surpasses that level , it would be highest since Bitcoin traded at ,932 in January 2018 , or just weeks after the token reached an all-time level of around ,000.

Bitcoin surged to more than ,000, its highest level since July last year, as the cryptocurrency's rally gained further momentum. There is no real fundamental explanation Bitcoin has almost doubled in price this year, underscoring its volatility after a bruising 2018 . Last year it lost some three-quarters of

The strong price gains of Bitcoin continue. Today the oldest and best known digital currency rose to its highest level since January 2018.

Ein Bitcoin-Logo in einem Schaufenster einer Kneipe im Kreuzberger Graefekiez. © Jens Kalaene / ZB / dpa A Bitcoin logo in a shop window of a pub in Graefekiez, Kreuzberg.

A high of 13,864 US dollars was reached on the Bitstamp trading platform in the middle of the week. Bitcoin gained almost 30 percent in value in October alone. Other digital currencies such as ether have also benefited from the recent price increase.

The price jump was triggered by the announcement by the payment service provider PayPal about a week ago that it would allow its customers to use crypto currencies such as Bitcoin. Investors hope the move to commercialize digital currencies will give a boost. The news follows other well-received news like the establishment of a Bitcoin fund by major investment firm Fidelity this summer.

The topic of cryptocurrencies is also getting a boost from the fact that more and more central banks are thinking about their own digital currencies. However, the effect of such efforts on existing digital currencies is not clear. It is true that these are given a boost in awareness through considerations such as the European Central Bank (ECB) to create a digital euro. However, central banks are critical of existing crypto currencies such as Bitcoin or Ether.

crypto exchange FTX wants to trade top stocks from Tesla to Amazon .
(Bloomberg) - Cryptocurrency traders will soon be able to trade tokenized stocks of some of the world's largest companies such as Apple Inc. and Amazon.com Inc. The FTX crypto exchange, in cooperation with the German financial company CM Equity AG and the Switzerland-based Digital Assets AG , offers so-called “Fractional Stocks” (fractions of shares) - around a dozen share and crypto pairs, which will be traded on the FTX platform, according to a press release that Bloomberg saw.

usr: 0
This is interesting!