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Money cryptocurrency: Bitcoin rises to a record high

20:00  30 november  2020
20:00  30 november  2020 Source:   handelsblatt.com

The world's biggest crypto fund manager says Bitcoin is the next step in the evolution of money – and 'I can't use it to buy coffee' is no longer a sound argument

  The world's biggest crypto fund manager says Bitcoin is the next step in the evolution of money – and 'I can't use it to buy coffee' is no longer a sound argument Bitcoin is not a fad that will fade away, said Michael Sonnenshein, managing director of Greyscale Investments. Investors understand that "buying Bitcoin and putting it in their portfolio is meant to be a store of value, inflation hedge, a digital gold, a digital form of money," Sonnenshein told Business Insider. Investors should not get hung up over the fact that there are only 21 million Bitcoin that will ever exist, because each coin has a 100 million units. Investors like the fact they can buy a fraction of the coin and add to their position over time, the crypto asset manager pointed out.

Cryptocurrencies . Bitcoin Jumps to Record High as Bulls Say This Time is Different. Bitcoin climbed to a record , taking less than three years to replicate the euphoric ascent that catapulted the cryptocurrency into the mainstream consciousness.

Investing.com - Cryptocurrencies were trading slightly higher on Tuesday, with Bitcoin rising to a one-month high . Bitcoin rose 1.59% to ,367.40 on the Bitfinex exchange, as of 8:40 AM ET (12:40 GMT) as U.S. traders returned from the Labor Day holiday on Monday.

The digital currency breaks its three-year-old record. Investors have used the recent price slump to re-enter the market.

Der Kurs der Kryptowährung steigt bis auf 19.825 US-Dollar. © Reuters The price of the cryptocurrency rises to 19,825 US dollars.

Bitcoin is more valuable than ever. On Monday, the price of the digital currency on the Bitstamp crypto exchange rose to $ 19,825. This exceeded the three-year-old record high from the end of 2017. At that time, Bitstamp hit a high of $ 19,666. On other platforms, of which there are numerous, the respective record levels differ somewhat.

"The latest price slump is being used to re-enter the market," says analyst Timo Emden from Emden Research. "Fresh money from investors who have so far missed the Bitcoin rally is now flowing into the market." Last Thursday, the oldest and best-known cryptocurrency was still quoted at around 16,200 dollars.

Ethereum and Ripple are exploding higher thanks to the growing interest in cryptocurrencies that lifted Bitcoin above $18,000

  Ethereum and Ripple are exploding higher thanks to the growing interest in cryptocurrencies that lifted Bitcoin above $18,000 Ethereum and Ripple are soaring, echoing the powerful rally in Bitcoin, as mass interest in cryptocurrencies picks up steam. Ethereum has jumped almost four-fold this year to just below $US600, although this is still short of its record $US1,500 in January 2018. The price of smaller crypto rival Ripple has hit its highest since mid-2019, having doubled in value in this month alone. This growing interest raises red flags, because many people are pouring in money into cryptocurrencies without really understanding how they work, which could lead to several mistakes and lost money, a researcher said.

Bitcoin set a new record high on Monday after the volatile cryptocurrency snapped back sharply over the It bounced back above ,800 on Monday morning, breaking the prior record high from 2017. In addition to Bitcoin 's surge, other cryptocurrencies , or altcoins, have also risen sharply in

A rally in bitcoin led the cryptocurrency market higher on Friday. Bitcoin crossed ,000, the first time it has hit that price since February. A rally in bitcoin led the cryptocurrency market higher ahead of a major technical event for the digital coin and as industry participants report an increased

Over the year, Bitcoin is more than 150 percent up. Two factors are fueling the current rally in particular: On the one hand, the volatility on the stock markets is high and the global central banks are pumping trillions of dollars into the markets through their aid programs in the corona crisis. That drives investors into alternative investments.

On the other hand, proponents of the cryptocurrency hope that it will be suitable for the masses. In 2020, trading in Bitcoin & Co became increasingly professional. More and more crypto start-ups are cooperating with traditional banks, the traditional financial world is merging with the crypto universe.

Henri Arslanian, crypto expert at PwC, therefore believes the increase is more sustainable this time around than it was in 2017. “There are now numerous opportunities for institutional investors to get involved in crypto through regulated exchanges or instruments with which they are familiar. Most of them didn't exist in 2017, ”Arslanian told financial news service Bloomberg.

Dow closes above 30,000 for the first time ever on Biden-transition rally

  Dow closes above 30,000 for the first time ever on Biden-transition rally US equities jumped on Tuesday after the General Services Administration's ascertainment of President-elect Joe Biden's victory lifted investor sentiments. The Dow Jones industrial average climbed above 30,000 for the first time, marking a rapid comeback after the index sank as low as 18,213 in March. The GSA announced Monday afternoon that it would provide the "resources and services" needed to start Biden's transition to the White House. It's the clearest sign yet that the Trump campaign accepted its loss in the 2020 race.

bitcoin price record high why is bitcoin rising BTC value. Make the most of your money by signing up to our newsletter for FREE now. The cryptocurrency Bitcoin reached a new high on Tuesday (December 12) when it peaked at a price of ,531.48 (£13,176.31) according to CoinDesk.

The rise and rise of Bitcoin continues to astound users and finance industry analysts after reaching a record high of 37.55 (£7237.25) on Monday morning. Bitcoin 's rise has led to the total market capitalisation for all cryptocurrencies to reach 0 billion for the first time - not bad for technology

However, only a small group of investors will benefit from the price increase. According to a study by the market research company Flipside Crypto, around two percent of anonymous accounts own 95 percent of the digital currency.

More: Target Price $ 100,000? The pros get an on the Bitcoin market.

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S&P 500 and Nasdaq close at record highs as investors bet that a vaccine will drive an economic rebound .
US stocks gained on Tuesday as vaccine progress further boosted equities hit hardest by the pandemic. The S&P 500 and Nasdaq composite rose to record highs. Investors cheered Pfizer and BioNTech's application for regulatory approval for their coronavirus vaccine in the European Union. If approved, the shot could be distributed before the new year. Federal Reserve Chair Jerome Powell warned of lingering risks to the US economy at a Senate banking committee hearing. The commentary did little to dent investor bullishness Bitcoin fell as much as 6.3%, to $US18,157.38, before climbing back abouve $US19,000.

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