Digital Currency: Why Bitcoin Rises to a Maximum in Two Months

Auction on April 30, the bitcoin rate grew by more than 18% and for the first time in two months exceeded $ 9.4 thousand.

According to experts, the cryptocurrency fully recovered after the March collapse, when the price dropped to $ 4.1 thousand.

Analysts explain the optimism of investors by the restoration of quotes on stock markets and the actions of global central banks to support the global economy.

Moreover, the demand for cryptocurrency is growing in anticipation of the expected changes in the rules for mining electronic coins. About how in the near future the course of bitcoin may change.

On Thursday, April 30, the world cryptocurrency market showed record growth. At the beginning of trading, the price of bitcoin increased by more than 18% and for the first time since February 25, exceeded $ 9.4 thousand. After a sharp rise, the value of the cryptocurrency slightly adjusted to $ 8.8 thousand, but it still remains near the maximum level for the last months.

Other digital assets showed similar dynamics. For example, in the first half of the day, Ethereum grew in price by 14% (up to $ 227), bitcoin cache – by 12% (up to $ 274), ripple – by 9% (up to $ 0.23).

At the same time, the total market capitalization of electronic money increased by 16% to $ 263 billion. After this, the values ​​were also slightly adjusted. Such data leads the portal Coinmarketcap.

According to experts interviewed by RT, the cryptocurrency market managed to fully recover after a sharp collapse in March. So, in the first month of spring, the cost of bitcoin updated the annual minimum and at the moment dropped to $ 4.1 thousand.

The collapse of the exchange rate occurred as a result of panic in the global stock market. Investors massively sold risky assets, including cryptocurrencies, against the backdrop of a threat to the global economy of the coronavirus pandemic.

“The current situation has led many professional investors to revise the market, operational and technological risk policies. The probability of losing all the money has sharply increased, ”said Anatoly Knyazev.

However, as the expert notes, already at the end of March the situation in the markets stabilized. Players reacted positively to central bank measures to support the global economy.

So, many world regulators launched a program of quantitative easing and began to pour additional cash into the financial systems of their countries. As a result, sales in the stock markets stopped, and investors became interested in cryptocurrency again, Knyazev explained.

As Yury Mazur, head of the CEX.IO Broker data analysis department, noted in an interview, in May and June the world economy may begin to gradually recover.

In this case, the demand for digital assets will continue to grow. Moreover, in favor of the cryptocurrency market, the expected change in the rules for bitcoin mining – halving, can play.

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