Bitcoin continued its training start until 2021, crossing $ 40,000 for the first time on Thursday.
According to CoinDesk, the price was traded up to $ 40,324, up 14% and 38% in a year that only has seven days. The digital currency did not maintain the $ 40,000 level for a long time. It was set at $ 39,595.92, up 10%.
Bitcoin’s concentration has been turbulent in recent days – crossing $ 30,000 for the first time on Saturday, and then hitting $ 36,000 and $ 37,000 on Wednesday, before setting three new $ 1,000 milestones on Thursday.
“Rallies like this promoted by FOMO [fear of missing out] only, with a loose logic applied later, are they unsustainable, “said Craanda Erlam, an analyst at Oanda.” But in the meantime, they can certainly produce extraordinary returns. “
The price of Bitcoin has been rising for months along with stocks, emerging markets and commodity prices as investors have resorted to riskier assets in response to aggressive monetary policies enacted by central banks to combat the economic collapse caused by the coronavirus pandemic.