March 8, 2021

CEX blog. IO | On December 1, bitcoin overcame the mark of 19.900 dollars

On whether the first cryptocurrency updated the historical record before the end of the year, commentsYuri Mazur, Head of Data Analysis at CEX. IO Broker

If we are talking about values of more than 21,000, then this probability is certainly present, as now on the entire cryptocurrency marketBut it will depend onIn my opinion, even if there is another or more corrective movement, the probability of a return of the price of bitcoin to the area of 20,000 dollars will bestill high until the end of 2020.

Bitcoin price spike over the past threemonth may be due to the global economic situation: increased inflationary risks for the US dollar, risks of a significant decline in stock markets against the backdrop of a global recession in the world economy and economic activity. In general, the COVID-19 pandemic can be called the reason for the demand for bitcoin.

In this situation, large investors and public companies represented on the stock market began to hastily look for alternative assets to protect their capital.And one of these assets has become bitcoin - the technological device strictly regulatescryptocurrency issuance and limit the maximum available amount, which is an ideal model of protection againstAs a result, the purchasing power of cryptocurrency is growing, while the purchasing power of traditional money is fallingdue to large cash injections from the monetary authorities of all the world's largest economies in order to help citizens and support economic demand in difficult times of the pandemic.

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