Bitcoin value exceeded $ 2000
Yesterday, May 20, the Bitcoin cryptocurrency rate set a new record, for the first time exceeding the $ 2000 mark. According to the BPI (Bitcoin Price Index), during the yesterday's trading session, the rate increased by 2.62%. Thus, this year the rate has grown by more than 100%.
Now, as they say, the psychological mark has been overcome, so we can expect a further increase in the value of the cryptocurrency. “The psychological level of $ 2,000 was overcome, this is an important milestone that will contribute to the growth of interest in Bitcoin and even greater growth in the exchange rate,” said Charles Hater, CEO of CryptoCompare.
Most likely, Hayter is right, because now many media, even those that are not related to finance or IT, have written about a new cryptocurrency record. Accordingly, a large number of readers will see this information, and among them there will certainly be those who show interest in this market. Now, by the way, the capitalization of the Bitcoin market has already reached $ 34 billion. The total capitalization of all cryptocurrencies exceeds already $ 72 billion, and in May this figure was approximately $ 50 billion.
The cryptocurrency trading volume rose to a record level on May 5 of this
year.Traders who began to actively trade all cryptocurrencies showed interest in Bitcoin. According to the statement of one of the cryptocurrency exchanges, the total trading volume at the time of May 5 exceeded $ 178 million - this is also a record. Moreover, the number of transactionsincreased by about 640%.
Several factors are immediately affecting the gradual growth of the cryptocurrency exchange rate. One of the most powerful is the recognition of Bitcoin by Japan. The fact is that in early April, the Japanese government decided to legalize Bitcoin and other cryptocurrencies.
According to some experts , the fact that now there is no political and financial stability in the world contributes to the popularity of Bitcoin. None of the traditional means of payment can be considered 100% reliable.
Interestingly, according to Google Trends, the popularity of the search query “bitcoin” has not yet reached the level of December 2013. Then the cryptocurrency rate began to grow spasmodically, after which it quickly dropped.
Regarding the current situation, some experts believe that the Bitcoin exchange rate is unreasonably high, which can damage cryptocurrencies and cause a loss of confidence in market participants.