Bitcoin, the most widely used cryptocurrency, reached a new historical record on Sunday, close to 35,000 dollars, thanks to the interest of institutional investors, although it subsequently lost strength and is now around 30,500 dollars.
The cryptocurrency, which also trades on the weekend, yesterday reached $34,792, its new record, and in today’s session it reached $33,665, according to Bloomberg.
Crypto has increased since the beginning of the year. Bitcoin, which surpassed $29,000 ($29,292) on Thursday, the last day of 2020, broke the $33,000 ($33,277) mark on Saturday, a jump of $4,000 in just two days.
According to Diego Morin, IG analyst, these increases are due to “the strong position of institutional investors, including investment banks, which see the conquest of $50,000 possible in the next two months.
However, Morin points out that “speculation and volatility will continue to haunt the cryptography market”.
On December 16, Bitcoin surpassed the $20,000 level for the first time, reaching $21,295. Since then, it has continued to grow, encouraged by the interest of major fund managers.
On December 19, it passed the $24,000 mark; on December 26, it reached nearly $27,000; and the next day, it surpassed $28,000.