Digital record: bitcoin rate for the first time exceeded $ 44 thousand

At the auction on Monday, February 8, the bitcoin rate updated a historical record.

The cost of an electronic coin rose by 15% and for the first time during the entire observation period reached $ 44.8 thousand, according to data from the CoinDesk website.

Following bitcoin, some other digital assets showed similar dynamics.

In particular, Ethereum rose in price by almost 13% - to $ 1,776 thousand. The value also became the maximum in history.

At the same time, the cost of ripple increased by 11% - to $ 0.47, and litecoin - by 12%, to $ 168.

The total capitalization of the electronic money market over the past day has grown by more than $ 194 billion and at the moment exceeded $ 1.3 trillion.

Such data is provided by the Coinmarketcap portal. 

Experts associate the sharp growth in the global cryptocurrency market with the reaction of investors to Tesla's statement.

In its report, the electric vehicle manufacturer announced the start of a large-scale purchase of bitcoins and plans to introduce a digital coin as a means of payment.

“As part of our (updated. -

RT

) policy, we have invested a total of $ 1.5 billion in bitcoin and can acquire and store digital assets from time to time or for a long time.

Moreover, we plan to start accepting bitcoins as a form of payment for our products in the near future, ”says Tesla's report on the US Securities and Exchange Commission website.

As the head of the data analysis department of CEX.IO Broker, Yuri Mazur, said in an interview with RT, the $ 1.5 billion investment was the largest one-time investment in bitcoin by large business.

Market players took this news positively and became more confident in buying digital coins.

As a result of such actions, a "rapid rise" of quotations occurred, the expert explained.

The statement of a well-known company about buying cryptocurrencies and accepting payments in bitcoins can also become an incentive for the influx of new private investors into the digital money market, says Anatoly Knyazev, Executive Director of EXANTE.

Moreover, according to the expert, in the current conditions, Tesla's example may be followed by other representatives of large business.

“It should be noted that the arrival of corporations on the crypto market is now almost inevitable.

This is largely due to the ultra-soft monetary policy of the US Federal Reserve System, ”Knyazev stressed.

To support the American economy amid the COVID-19 pandemic, in the spring of 2020, the US Federal Reserve announced an unprecedented expansion of its quantitative easing program.

The regulator began printing dollars and buying government bonds in an unlimited amount on the stock market.

According to experts, the Fed's policy should lead to an increase in the money supply in the economy and help to increase the growth rate of US GDP.

At the same time, the actions of the Federal Reserve weaken the US national currency in the global market.

In such conditions, it becomes more profitable for investors to invest in gold or cryptocurrencies.

Alexander Rozman, senior analyst at Forex Optimum, told RT in an interview about this.

“Excess liquidity has become the main reason for the growth of cryptocurrencies in recent months.

Amid the pandemic, trillions of dollars were “poured” into the global financial system.

This is what causes the fear of devaluation of the main reserve currency, which is why the demand for alternative instruments, including cryptocurrency, is growing, ”explained Roseman.

Looking for a landmark

According to the forecast of Alexander Rozman, the next psychologically important price indicator of bitcoin for investors will be the level of $ 46-47 thousand per coin.

If the price of the cryptocurrency can overcome this range, the quotes will immediately move towards $ 50 thousand, the analyst is sure.

Meanwhile, experts interviewed by RT also warn of the continuing risks for digital money buyers.

So, analysts do not exclude that after a record growth, the market risks repeating the 2018 scenario, and the cost of cryptocurrencies may drop sharply.

“Support from major players will open up new price frontiers for bitcoin, up to $ 100,000 per coin in the coming months.

However, the implementation of such a scenario provides for a rapid drop after a sharp take-off, comparable to the situation in 2018.

For this reason, any short-term action on the market now carries huge risks for the industry, "Vitaly Kirpichev, Development Director of TradingView in Russia, said in a conversation with RT.

Meanwhile, in the long term, the global cryptocurrency market will continue to grow, experts say.

Experts believe that the industry can be supported by the emerging development of electronic currencies in a number of countries.

For example, in 2020, China conducted a pilot test of the digital yuan.

At the same time, in October 2020, the Bank of Russia presented a report on the creation and implementation of the digital ruble.

As expected, in the experimental mode, the electronic national currency may start earning by the end of 2021.

“Support for digital currencies and the development of their own electronic money by governments of different countries will support the industry as a whole.

So, investors will begin to enter the market more actively without fear, "Artyom Tuzov, executive director of the capital market department at Univer Capital, told RT.