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Bitcoin value surpassed $ 30,000 for the first time

Business and Finance

Some analysts suggest that bitcoin is seriously overvalued and after reaching the height of 30 thousand dollars, it may fall in price by more than two times.

Bitcoin value surpassed $ 30,000 for the first time

The value of bitcoin broke the record, surpassing the $ 30,000 mark for the first time. According to the CoinMarketCap service, the cryptocurrency has risen in price by 2.96% to $ 30,252.91.

The previous record was set on December 31, 2020, when bitcoin surpassed $ 29,000. Since the beginning of last year, cryptocurrency has quadrupled in price, and only in the last two months - 2.5 times.

Bitcoin began to rally in March 2020 amid news of an evolving coronavirus pandemic as global stock markets and oil prices hit. Investors have poured into cryptocurrencies and risky assets in general, amid the excitement of vaccine development and continued incentives from global central banks.

Financial analysts predict that the bitcoin rate will rise in the first quarter of 2021, and warn of serious cryptocurrency volatility in the range of $ 25,000 - $ 50,000 per bitcoin.

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