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Bitcoin rises in price at a record pace

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Bitcoin rises in price at a record pace
January 16
09:00 2020

The year began very successfully for the most famous cryptocurrency. The authoritative portal CoinDesk, focused on digital currencies, has calculated that the bitcoin exchange rate has grown 20% in January, reaching 9 thousand US dollars.

8 years ago the market saw such a pace for the last time – it was at the beginning of 2012. Other virtual currencies have showed good growth too: for example, Ethereum has jumped by 25%, XRP – by 20%.

The reason for such a serious growth was the confidence of investors in the future of the cryptocurrency market. The increase was triggered by the launching options on bitcoin futures contracts initiated by the exchange operator CME Group. This step will bring even more professional investors to the cryptocurrency market.

Last year was not easy for virtual money. In the mid-year, Bitcoin managed to reach the level of 12 thousand US dollars, but in November, the cryptocurrency fell to almost 7 thousand US dollars. The news from Facebook about the launch of its own cryptocurrency Libra caused the growth, but the fall was provoked by the upcoming legal acts on the regulation of the cryptocurrency market. Despite the ups and downs, the popular cryptocurrency has almost doubled in value and in fact became one of the most profitable assets of the past year.


The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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