Uncertainties due to the ongoing corona crisis and the flood of money from central banks make Bitcoin more and more attractive. The price of the cryptocurrency is at its highest level in a good year. In the run-up to the so-called Bitcoin halving, in which the reward in the form of Bitcoins for performing certain arithmetic tasks (mining) is halved, the price of the cryptocurrency recently cracked the US $ 10,000 mark. Industry observers predicted a clear upward trend after the miner’s reward was halved from 12.5 bitcoins per block to 6.25 bitcoins. On Monday, the Bitcoin price passed the $ 12,400 mark – making it more expensive than it has been in over a year. Most recently, a Bitcoin was worth more in June 2019 than it is now.
Uncertainty drives Bitcoin course
The reasons for the upswing are the continuing uncertainty about the economic consequences of the corona crisis – for example, if a second lockdown would be necessary – and the flood of money from the global central banks, as Manager-Magazin writes. In the wake of the most important cyber currency, competitors such as Ether or XRP have also risen in the past few days. The market capitalization of all around 6,500 cryptocurrencies is currently approaching the 400 billion dollar mark. Just under three quarters of this, however, are the three largest digital currencies.