With an all-time high of $67000, the cryptocurrency is surpassing its previous highs from mid-April by about $2000, showing new strength after the crypto crash in May this year. The largest cryptocurrency subsequently lost over 50% by mid-July before recovering from the low on July 21. Despite a setback in September, the share price was unstoppable.
A major topic of discussion in recent months has been how governments are dealing with the cryptocurrency, which has now reached a market capitalization of $1.16 billion. China has taken a growingly negative stance towards Bitcoin, most recently banning transactions of all cryptocurrencies including Bitcoin and putting more focus on the digital form of its own national currency, the Yuan.
Other countries, however, prefer to regulate cryptocurrencies. Corresponding statements came from government circles in Japan and also the USA. El Salvador was the first country in the world to decide to adopt Bitcoin as its official currency.
Bitcoin’s price rise usually causes altcoins, alternative cryptocurrencies to BTC, to rise with a lag. These price rises have not yet been seen in many smaller currencies, which could follow suit in the near future and thus offer interesting investment opportunities.
There are also stocks that are benefiting from the rise. This includes the American crypto exchange Coinbase, which recently saw price increases of 25% in recent days. Shares of software company Microstrategy, which has invested heavily in bitcoin, have also risen over 30% since the beginning of October.
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