Digital currency Bitcoin rises to an all-time high


Record broken: The Bitcoin price has risen to a new high. A unit of cryptocurrency now costs nearly $ 20,000.

The digital currency Bitcoin is more valuable than ever. On Monday, the price of the oldest and most famous cryptocurrency on the Bitstamp trading platform rose to $ 19,808.

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.

Bitcoin has grown in value in the past few weeks. Since the beginning of October alone, its value has almost doubled. The main driver is the plan of the large payment service PayPal to enable its customers to pay with Bitcoin and other crypto currencies in the future.

Professional investors are interested in Bitcoin

In addition, professional investors seem increasingly interested in Bitcoin. A few months ago, for example, the large asset manager Fidelity launched a Bitcoin fund.

However, digital currencies such as Bitcoin are highly prone to fluctuations in price. The best example is the record hunt that drove Bitcoin to almost $ 20,000 at the end of 2017. A short time later there was a steep price crash.

Even before the recent record jump, Bitcoin had fallen sharply in the meantime. Critics saw their skeptical attitude towards digital currencies confirmed, according to which the high exchange rate fluctuations stand in the way of use as a means of payment or investment.

Bitcoin as a serious alternative currency?

However, many Bitcoin fans are of the opinion that digital currencies could increasingly establish themselves as a serious alternative to conventional currencies. One reason for this is the high general interest in cryptocurrencies, which is driven not least by the digital money efforts of major central banks such as the European Central Bank (ECB).

On the other hand, the rocket rise again could speak against a stabilization of the price development: In March the Bitcoin was only worth 4,000 dollars.

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