October 16, 2021

Cryptocurrency explodes – Sets new record

Bitcoin sets a new record with 19,800 dollars. The cryptocurrency Bitcoin broke its old record from 2017 on Monday by topping 19,800 dollars, reports CNBC . At the end of 2017, a Bitcoin was worth $ 19,783.

Bitcoin passed $ 19,000 last week, but then fell to around 17,000 on Thursday and Friday.

But on Monday, it bounced back again. Bitcoin has now almost doubled in value since September.

So far in 2020, however, Bitcoin is up over 150 percent. In the last month, Bitcoin has gone from around 12,000 dollars and up to around 19,000 dollars. The market value of Bitcoin is also higher now than it was when the peak was reached in 2017.

Can reach 55-60,000 dollars

In mid-November, Galaxy Digital CEO Michael Novogratz stated that this was just the start of the upswing.

He envisions that Bitcoin may reach values ​​of $ 55,000 and $ 60,000 by next year, because he claims Bitcoin is increasingly replacing gold in investors’ portfolios, according to CNBC .

Michael Novogratz in Galaxy Digital believes Bicoin should be much, much higher than it is today.
Michael Novogratz in Galaxy Digital believes BiTcoin should be much, much higher than it is today.  

Supporters of cryptocurrency also believe that things have changed since the last time Bitcoin reached its peak. They refer, among other things, to changes in companies such as Fidelity Investments, Square and PayPal. CNBC writes that PayPal recently allowed its users to buy, hold and sell cryptocurrencies – and PayPal will also make arrangements to trade in cryptocurrencies next year.

Bitcoin is “Gold 2.0” – can reach 500,000 dollars

Tyler Winklevoss, one of the founders of the cryptocurrency Gemini, told CNBC on Monday that Bitcoin is “gold 2.0”, and that Bitcoin could one day be priced at 500,000 dollars.