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| Bitcoin price continues to rise to over $ 16000 |
Bitcoin crossed $ 16,000 on Thursday, its highest level since January 2018, and had previously been higher in the past few weeks.
According to data from CoinDesk, Bitcoin hit the $ 16,000 level for the last time on January 8, 2018. The reason for Thursday's rebound is currently unclear, but at a time when some companies appear to be heading towards the cryptocurrency.
Investors are hoping that more stimulus packages from US central banks to support economies affected by the COVID-19 pandemic will increase the value of digital assets.
Bitcoin has grown in recent weeks after digital payment company PayPal announced that it would use virtual currency to make purchases on its platform.
This news reinforces long-term expectations that Bitcoin and its competitors could become a more viable payment method, a previously unattainable goal.
Investors and bitcoin enthusiasts are pinning their hopes on further clarification of the rules of cryptocurrency by global financial regulators and greater recognition of large financial firms.
It should be noted that there are no common big improvements in cryptocurrencies, and there are usually big declines followed by many experts who get lost and cannot pinpoint the clear cause of the change in trend.
Bitcoin's price was over $ 20,000 in December 2017 and was down 50% the following month.
"Bitcoin will not rise or fall for macroeconomic reasons such as quantitative easing or actual investor decisions," said David Gerrard, a cryptocurrency expert and author of a book on virtual currencies (Libra) run by Facebook. He said earlier. He added, "The market is weak and man-made, and any change in prices can be completely explained by the problems of the internal market."