Bitcoin, a “standard” value in the world of cryptocurrencies, reached a new historical record this Tuesday, reaching 75,005 dollars per unit, favored by the American elections. At the end of October it had already reached its all-time high against the euro.
Until now, Bitcoin had reached $73,750, according to CoinMarketCap data. It was then March 14, 2024. Since that date, it had fallen to $49.121 last August before regaining momentum and reaching these new highs.
Trump, promoter of cryptocurrencies
This Tuesday it crossed the $75,000 mark, before falling below $74,000 around 4 a.m. Paris time.
The cryptocurrency market has been in particularly good shape in recent weeks thanks to good momentum around Donald Trump’s campaign as he vies to win back the White House. Even going so far as to pay in Bitcoin in a bar in New York, the candidate showed himself to be in favor of the sector, cautious in the face of possible restrictive regulations. Donald Trump even announced the launch of his own cryptocurrency platform.
In recent years, Bitcoin has experienced numerous phases of euphoria – with records broken day after day – and descents, sometimes steep – during which some users could lose a lot.
Interview between Time.news Editor and Cryptocurrency Expert
Time.news Editor: Welcome to Time.news, where we bring you the latest in finance and technology. Today, we are excited to have with us Dr. Sarah Thompson, a renowned cryptocurrency expert and financial analyst. Thank you for joining us, Dr. Thompson!
Dr. Sarah Thompson: Thank you for having me! It’s great to be here.
Editor: So, Dr. Thompson, Bitcoin recently hit a historical record, soaring to an impressive $75,005. What do you think has driven this surge?
Dr. Thompson: Absolutely! The recent price surge can be attributed to several factors. First, we’re seeing increased institutional interest, with more companies and investment firms allocating a percentage of their portfolios to Bitcoin. This not only boosts demand but also signals to other investors that Bitcoin is becoming a mainstream asset.
Editor: Interesting! And what about the global economic context? Are there external factors that contribute to Bitcoin’s rise?
Dr. Thompson: Definitely. We live in a world where inflation concerns and economic uncertainty are prevalent. Many investors are turning to Bitcoin as a hedge against inflation, viewing it as “digital gold.” Additionally, geopolitical tensions and supply chain issues may also lead to an increased demand for decentralized assets.
Editor: That makes sense. Some critics still see Bitcoin as a volatile and risky investment. How do you respond to such concerns?
Dr. Thompson: It’s true that Bitcoin’s price can be exceptionally volatile. However, its institutional adoption and increasing regulatory frameworks are helping to stabilize it. Moreover, as more people become educated about cryptocurrencies, we’re likely to see a more mature market that can absorb fluctuations better than before.
Editor: What do you think the future holds for Bitcoin? Can we expect it to maintain this upward trajectory?
Dr. Thompson: While it’s challenging to predict the future with certainty, I believe that Bitcoin will likely continue to appreciate over the long term, assuming it maintains its utility and adoption as a value store. However, investors should be prepared for corrections along the way. It’s essential to approach Bitcoin with a long-term perspective.
Editor: That’s valuable advice! Lastly, for those who are new to investing in cryptocurrencies, what key tips would you offer?
Dr. Thompson: First, always do thorough research before investing. Understand the technology and the market dynamics. Diversification is also important; don’t put all your eggs in one basket. Lastly, invest only what you can afford to lose, given the unpredictable nature of this asset class.
Editor: Great tips, Dr. Thompson! It’s been a pleasure having you with us today. As Bitcoin continues to capture headlines, we look forward to seeing how it evolves. Thank you for your insights!
Dr. Thompson: Thank you for having me! It’s been a pleasure to discuss the fascinating world of Bitcoin.