After a long slump, Bitcoin has crossed the symbolic threshold of $ 50,000. Virtual currency had not reached this stage since May 15. We briefly explain the reasons for this turnaround.
The horizon is brightening for Bitcoin. At the start of the week, the famous cryptocurrency has crossed the threshold of 50,000 dollars (50,249.15 dollars to be precise). She had not reached this stage since the middle of May. For the record, the price of Bitcoin had nevertheless been close to 65,000 dollars last April. Before experiencing a hell of a fall in the following months. Several factors explain this sudden decline.
Elon Musk had notably announced that Tesla would no longer accept Bitcoin, deploring its harmful effect on the environment. Virtual currency had then fallen below $ 50,000. A few days later, it was Beijing that came to put its two cents in. The anti-cryptocurrency measures taken in China had notably precipitated Bitcoin below the $ 40,000 mark. Hovering around $ 30,000 for many weeks, Bitcoin finally took its head out of the water last month.
Read also >> Bitcoin: its ban in China has made mining easier for the rest of the world
Bitcoin: positive signals
A rebound enabled in particular by Elon Musk who finally suggested that Tesla would again accept Bitcoin as a means of payment. The coercive measures taken in China against minors would have reassured the billionaire in particular about the negative impact of the currency on the planet. What’s more, Amazon’s posting of a digital currency and blockchain-related job posting has caused cryptocurrency to skyrocket.
The latter have also recently benefited from the announcement of Paypal. Across the Channel, the online payment service now allows its users to buy, own and sell cryptocurrencies (Bitcoin, Bitcoin Cash, Ether, Litecoin). In addition, the announcements of Elon Musk (Tesla) and Jack Dorsey about incorporating virtual currencies into their respective businesses have also done Bitcoin and its ilk a lot of good.
It remains to be seen how the price of Bitcoin will evolve in the near future, several analysts estimating that it could rise to 100,000 dollars. Before that, however, it will have to settle permanently beyond 50,000 dollars.