Bitcoin exceeds $ 20,000 for the first time

$ 20,787.35. This is the value reached by the bitcoin, the first decentralized cryptocurrency, for the first time in its history Wednesday, December 16. The currency benefited from a market appetite for risk, which almost tripled its value in one year.

At around 3:20 p.m. KST, bitcoin cost $ 20,612.40 and saw its value nearly triple over the year, moments after hitting an all-time high of $ 20,787.35, according to compiled data. by the Bloomberg agency.

The recent rise in bitcoin was sparked by the launch of a cryptocurrency buying, selling and payment service by online payments giant Paypal on October 21.

At its current level, it has grown to around 180% since the start of the year.

In addition to this service intended for individuals, investment funds are increasingly interested in this asset due to sudden price movements, while they were suspicious of it for a long time.

Auspicious period

“The use of bitcoin by traditional investors is only just beginning”, warn analysts at JPMorgan bank, who compare digital and decentralized currency to gold.

For many followers of bitcoin, the latter draws its appeal from its decentralization: created by a network itself invented by anonymous people in 2008, it therefore does not depend on any institution.

Cryptocurrency therefore offers a more modern alternative than gold to the dollar, which is currently moving at very low levels due to the monetary easing measures of central banks, taken to revive the economy in the face of the Covid-19 crisis.

“The end of year holiday season could be quite pleasant for bitcoin, which would be carried by the wave” optimism in all markets, believes Craig Erlam, analyst at Oanda, who notes that the increase comes just as the US Federal Reserve (Fed) meets.

This flexibility of central banks benefits other risky assets: Tuesday, the US Nasdaq index, predominantly technology, finished with a new record.


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