Düsseldorf Bitcoin is more valuable than ever. On Monday, the price of the digital currency on the Bitstamp crypto exchange rose to $ 19,825. This surpassed 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.
Over the year the Bitcoin is more than 150 percent in the plus. 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.
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 professionals enter the Bitcoin market.