Thursday , March 4 2021

Bitcoins have exceeded $ 50,000. But can he hold on?

Bitcoins are reaching their all-time high: currently traveling well over $ 50,000 each. This period of financial strength has been going on for several weeks, mainly due to the decisions of companies such as PayPal (at the end of last year) and Tesla, which supports the virtual currency (bought bitcoin for $ 1.5 billion a few days ago). A corporate validation that pushes many users to cryptocurrency.

“I believe that with December’s unexpected growth, those who think they missed a train and did everything to enter the market in 2021 are one of the real reasons for the climb.“Mauro Masoni, senior sales manager of the cryptocurrency buying platform The Rock Trading, explains to Also, financial intermediaries and major banks such as Generali in Italy and Banca Sella and Bank of New York Mellon in the United States,”can only testify to their favor and nerve power in the industry“, According to Masoni.

Bitcoin trend over the past twelve months as illustrated by Coindesk

Determination is soon

It is not the first time that bitcoins have experienced a spike. However, each time the value was lowered to settle a number that was still higher than the first, although lower than the peaks reached. So, is the Bitcoin rally expected to end at some point? Or will it last this time? According to Masoni, probably the value of bitcoins will be between 45 and 60 thousand dollars. In any case, he feels physiological in the coming days “a break in consolidation followed by a retreat“.

The highly volatile nature of bitcoins – even subject to strong ups and downs every day – has left the usual debate open: Could Bitcoin really be a virtual currency, or, as many parties consider, them like “safe havens”? “The basic idea behind Bitcoin’s birth was to create a payment system lately without brokers to manage it. – Mason answers – The original idea failed, and the idea of ​​attributing bitcoin some kind of defense against inflation and therefore an investment vehicle was retained. I personally see it reflected in this direction“.

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