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BTC rate jumps over 34000

It is virtually unstoppable

03.Jan.21 10:06 AM
By Abigail Richards


BTC rate jumps over 34000
The advance of the bitcoin continues unabated. The value of the digital currency rose to over $ 34,000 on Sunday, the day after one bitcoin became worth over $ 30,000 for the first time.

The bitcoin was worth 34,696 dollars around 8.30 (Dutch time). That is 17% more than 24 hours ago, according to the site for crypto races Coinmarketcap reports. The Ethereum, the second most popular currency that can be traded through blockchain technology, gained almost 8% of value.

The value of the bitcoin increased rapidly at the end of 2020. A number of established investors are putting money into crypto coins. As a result, they gradually lose the image of highly speculative investment or toy for tech fans. In addition, the idea is gaining ground that cryptocurrency coins remain valuable as central banks push massive amounts of money to fight the coronacrisis.

Digital currencies such as the bitcoin are also viewed with suspicion because they are widely used for money laundering. In order to counter this, De Nederlandsche Bank, among others, started to supervise companies providing crypto services last year.

Connoisseurs take into account that the advance of bitcoin will continue for a while. At the same time, caution should be exercised. With relatively few investors still trading in bitcoins, exchange rate fluctuations are much more pronounced than in traditional currencies, for example.

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