Due to the turmoil in the US election, the price of bitcoin rose to over $ 14,900 on Thursday, its highest level since January 2018.
Investors are hoping that additional measures taken by the central bank to support economies affected by the COVID-19 pandemic will increase the value of digital assets.
Since Presidential Election Day, when Democrats (Joe Biden) were about to defeat Republican President Donald Trump, major cryptocurrencies have risen more than 10%. The most recent Bitcoin transaction rose 5.4% to $ 14,930. Shares of global technology companies and the bond markets continued to rise on Thursday.
On Thursday, the Bank of England added 150 billion pounds ($ 195.20 billion) to its asset purchase plan, and the Federal Reserve is expected to announce later that it will do what it needs. It can help the US economy.
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.
Bitcoin investors and enthusiasts are pinning their hopes on further clarification of the rules of cryptocurrency by global financial regulators and the increased adoption rate of large financial firms.
It should be noted that big improvements in cryptocurrencies are not common and usually accompanied by significant declines. This is accompanied by the emergence of many confused experts who are unable to determine the clear cause of the change in direction.
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 real investor decisions," said David Gerrard, a cryptocurrency expert led by Facebook for Virtual Currency (Libra). . The author of the book. He added, "The market is weak and man-made. Any change in prices can be completely explained by the problems of the internal market."
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| Bitcoin price reached its highest level since January 2018 |