Bitcoin Rate Has Renewed Its All-Time High, Exceeding $41,000

On January 8, Bitcoin set a new record - the first cryptocurrency has once again updated its historical maximum, exceeding the level of $41,000.

The CoinMarketCap portal, which calculates the average cost of more than 20 world exchanges, reports that Bitcoin has risen in price by 9.79% to $40,612.

On the Binance exchange, the largest in terms of trading volume for cryptocurrencies, the cost of bitcoin increased by 9.85%, reaching $40,602. Later, the price of bitcoin reached $41,057, thereby renewing its historical maximum.

Bitcoin is the most popular digital currency and accounts for about 69.8% of the total cryptocurrency market. The most popular cryptocurrency began to rise in price in the second half of December.

By the middle of the month, the cost of bitcoin exceeded $20,000 and has continued to grow since then. However, some experts suggest that bitcoin has already reached the upper limit, and a slow rollback to its previous exchange rate positions will begin soon.

Many analysts are predicting a bright future for bitcoin. Among them are experts from JPMorgan Bank. Their forecast is $146,000 for 1 bitcoin.

Analysts believe that cryptocurrency will gradually replace gold as a safe asset and a "safe haven" for investors in an attempt to protect their savings from exchange rate fluctuations.

However, even the current situation fully demonstrates the instability and volatility of the first cryptocurrency rate. At the beginning of last year, bitcoin was trading at $4,000-$5,000. And a few years earlier, the token reached a record high of $20,000, and then collapsed. Now, perhaps, history will repeat itself.

The rise in the price of bitcoin is fueled by the coronavirus pandemic and uncertainty in the global economy. However, no one can say what will happen to the cryptocurrency in the near future, it is too unstable an asset.