Bitcoin cryptocurrency is on the rise again; To jump more than 8% to a new record high at $ 19,728 on Monday, to approach its highest level ever after a sharp drop last week that trimmed its 2020 gains.
According to Arabianet, investment bank JP Morgan has said that the recent declines of Bitcoin are correcting unjustified gains.
The report added that speculators in the commodity and fund markets contributed to the recent declines due to abandoning futures contracts.
and profit-taking and fears of new cryptocurrency regulations led to the digital currency's decline by up to 14% during last Thursday's trading, after it got close to The record you set in 2017 when it broke the $ 19,000 mark.
and digital currencies have gained more momentum recently, with the increasing institutional interest in them and their adoption by some companies, especially PayPal.
and since the beginning of this year, Bitcoin has risen by just under 150%, to its highest level in more than 3 years, amid expectations that it will exceed the levels of 2017 when Its price exceeded the level of $ 20 thousand.
and cryptocurrencies benefited from the Corona crisis as a safe haven and a hedge against inflation after governments and central banks pumped huge stimulus packages, to succeed in surpassing gold in performance this year. / p>
