Bitcon digital currency has witnessed unprecedented rises in recent times, coinciding with the decline of the US dollar, as the most famous and most expensive digital currency in the world jumped near 34 thousand dollars. But it decreased in the last 24 hours by 1.7%, to reach $ 33.13 thousand.
and that price jump is record after Bitcoin recorded $ 3000 in late November, less than two months, until it reached this unprecedented price, recording 33.900 thousand Dollar in yesterday's trading, Sunday, ie an increase of 1030% within 40 days only.
On the previous topic, the economic advisor and founder of the Namazone Center for Economic Research, Iyad Aref, said that the rise of Bitcoin near the level of 34 thousand dollars comes as a result of several important reasons, the first Increasing the institutional orientation to invest in Bitcoin and digital currencies in general.
Arif explained that the second reason is that with the spread of huge stimulus packages and quantitative easing from governments to face the burdens of the Corona epidemic, a large number of investors have moved towards digital currencies and Bitcoin Prudential buying to counter potential inflation.
And technically, the current highs are not only a result of the past weeks, but are due to an important incentive that was in April 2020 the halving or reduction of the mining prize from 12 units to 6 units Bitcoin, thus reducing the supply of Bitcoin quantities faced with unprecedented demand from institutions, it is natural for prices to continue to rise according to well-known market theories.
and global investment banks have expected a significant increase in the Bitcoin price in the coming period. Other financial institutions also expected that the digital currency will continue to gradually rise to more than 50 thousand during the first quarter of the new year 2021.
