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  • Bitcoin has touched a new high trading above $35,000 for the first time on Wednesday.

  • That's an 800% rise since mid March, Bitcoin his new record high above $35,000 on Wednesday.

  • It's the latest milestone for the Cryptocurrency as it continues its scintillating rally.

  • Investors see Bitcoins a hedge against inflation.

  • They see government stimulus packages is eroding the value of traditional money.

  • Because the supply of Bitcoin is limited, they think that it can help store value store money for them.

  • At the same time, others see Bitcoins the tool for quick games.

  • It's very volatile and the price moves up very quickly, so people think that they can make money from this and then lastly, at the same time, others see Bitcoin is one day catching on.

  • There's a real payment method, so is it still a good time to invest in Bitcoin or have we missed the boat?

  • What are investors saying?

  • So some big investors now really starting to put out research notes about the theoretical value of Bitcoin and multiple one this week has been JP Morgan, who said that Bitcoin could theoretically, uh, surpassed $146,000.

  • There's a big caveat in this, uh, investment.

  • Banks often say that this can only happen if volatility of Bitcoin falls, and that's still very much unknown.

  • It's very unclear whether that will happen.

  • So in December 2017, Bitcoin was pushed to a record high by a retail investor fueled buying frenzy.

  • The price went up very quickly.

  • On a month later, it crashed very sharply.

  • Some people say that there is a risk of this again, but at the same time, the Bitcoin market market infrastructure has changed quite dramatically.

  • Since then, it's matured has become safer.

  • There's generally fewer risks of the kind of cyber heist hacks on really large volatility swings that have been characteristic of Bitcoin through its 12 year life.

  • Yet at the same time, others say that one day the price of Bitcoin could slump again.

  • There's still lots of unknown factors surrounding this.

Bitcoin has touched a new high trading above $35,000 for the first time on Wednesday.

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B1 bitcoins volatility record high price unknown wednesday

Bitcoin breaks above $35,000 to touch new high

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    林宜悉 posted on 2021/01/06
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