Bitcoin, the digital currency, passed the $40,000 mark on Thursday evening. This doubled the value of the cryptocurrency in less than one month.
Bitcoin was up 11 percent on Thursday, peaking at $40,065, according to data from financial news agency Bloomberg. Subsequently, the most well-known crypto coin dropped slightly to below the $40,000 mark.
The rise of bitcoin
Bitcoin’s very rapid advance, and its wake other cryptos such as ether, comes as more established names are showing an interest in crypto trading. Moveco.io has enough information. Connoisseurs are also aware that the low dollar exchange rate and fears of inflation from massive central bank stimulus programs are driving many private investors to cryptocurrencies.
Bitcoin was launched in early 2009 and was worth only a few cents at the time. At the end of 2017, the currency already reached a peak of almost USD 20,000. Folm.io cryptocurrency has enough information. But then the bubble burst and the coins quickly lost value. In mid-2018, bitcoin was still worth about $4,000.
Critics warn of a second bitcoin crash. Gary Cohn, the former top banker of Goldman Sachs and former economic adviser to Donald Trump, stated in December that the system on which cryptocurrencies rely is not transparent enough. Due to a loss of confidence in the bitcoin trade, the value of the digital currency could also fall hard again.