Bitcoin hits new all-time high of over $117,000
Representations of virtual currency Bitcoin are placed on US Dollar banknotes in this illustration taken May 26, 2020. REUTERS/Dado Ruvic/File Photo
Bitcoin, the most traded cryptocurrency on the market, reached a new all-time high today, over $117,600, with a daily increase of over 3%.
According to data from the financial news agency Bloomberg, at 6:30 am (Lisbon time), the cryptocurrency reached an all-time high of $117,665 (€100,785), after rising 3.58%.
Bitcoin has been setting new records since Wednesday, when it surpassed $112,000 (€95,950), at a time when trade tensions have intensified again and the US dollar continues to depreciate.
Manuel Pinto, an analyst at the consulting firm CFA, said the market-leading cryptocurrency is breaking records thanks to growing demand, uncertainty, greater deregulation in the sector, and the success of companies in the sector on Wall Street.
Experts at the intermediary company Bitpanda assure that the new highs are driven by "a perfect combination of favorable macroeconomic conditions and constant and growing institutional interest."
With the return of liquidity to the market and the increase in the money supply in both Europe and the United States, investors are increasingly viewing Bitcoin as an asset with potential.
"We are seeing growing retail demand, supported by strong inflows into ETFs and continued institutional adoption. Everything indicates that Bitcoin's role as a mainstream asset is more consolidated than ever," they conclude.
jornaleconomico
