At the auction on Tuesday, April 13, the price of bitcoin broke a historical record.
The rate of the electronic coin rose by almost 5% and for the first time during the entire observation period reached $ 63.2 thousand.
Following Bitcoin, other cryptocurrencies showed similar dynamics.
For example, Ethereum rose in price by 1.5%, to $ 2.2 thousand - the highest level in history.
At the same time, the cost of ripple increased by 25% and for the first time since January 2018 rose to $ 1.7, the price of litecoin grew by 8%, to $ 270 - the highest level since December 2017.
The total value of all cryptocurrencies over the past day has grown by almost $ 70 billion and at the moment has risen above $ 2.15 trillion.
Such data is provided by the Coinmarketcap portal.
The observed rise in the price of cryptocurrencies is largely due to the increased inflow of money into digital assets, says Artyom Deev, head of the analytical department at AMarkets.
According to him, global investors have increased their investments in bitcoin and its analogues in anticipation of one of the most anticipated events for the electronic coin market - the entry to the exchange of the Coinbase cryptocurrency trading platform.
“As expected, on April 14, Coinbase will list its shares on the NASDAQ stock exchange and as a result will become the first public company in the cryptocurrency sector.
Market players will be able to invest money in digital coins by purchasing Coinbase securities.
Such a proposal has already caused a stir among investors, ”Deev explained.
In addition, one of the reasons for the noticeable rise in prices for cryptocurrencies was the news about the intention of several major players in the financial industry to enter the digital money market.
Nikolay Pereslavsky, an employee of the Department of Economic and Financial Research of the CMS Institute, told RT about this.
“The American financial conglomerate Morgan Stanley plans to allow its investment funds to acquire cryptocurrency for no more than 25% of the total assets under their management.
At the same time, one of the world's largest investment banks, Goldman Sachs, will provide its clients with the opportunity to invest in cryptocurrency.
These steps further fuel interest in digital money, ”Pereslavsky said.
Notably, many investors use Bitcoin and other digital currencies as defensive assets.
I shared this opinion with RT
First Vice President of the Russian Association of Cryptocurrencies and Blockchain (RACIB) Valery Romanyuk.
As the expert explained, against the backdrop of rising global inflation, the purchase of electronic coins is becoming one of the most reliable ways to save money.
“More and more big players are investing in bitcoin, along with gold.
Everyone understands that it is no longer possible to invest in dollars alone today, ”added Romanyuk.
In his opinion, in the absence of serious global geopolitical or economic shocks, the bitcoin rate will continue to grow and may reach $ 75 thousand.
Earlier, the founder of the largest crypto exchange in the world Binance Changpeng Zhao did not rule out reaching the $ 100 thousand mark per coin in the future.
“The development of the cryptocurrency industry in 2020 has laid a new foundation for further growth.
The macroeconomic conditions of the past year, partly exacerbated by the pandemic, will continue to influence institutional investors and push them to look for new ways to protect money from inflation, ”Zhao suggested in an interview with RT.
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Meanwhile, experts interviewed by RT warn of the continuing risks for digital money buyers.
Since Bitcoin is not backed by anything, the rush growth of the electronic coin rate can at any time be replaced by a sharp collapse under the influence of market sentiment, experts say.
“Thus, before the end of the year, anything can happen to the price of bitcoin - from a strong rise to a final fall.
The economy of any country or the business of a company is not behind the cryptocurrency.
All this is a question of supply and demand in the market, as well as price manipulation, "Oleg Shibanov, director of the Center for Financial Technologies and Digital Economy Research at Skolkovo-NES, explained in a conversation with RT.
At the same time, as Changpeng Zhao emphasized, at the moment the demand for cryptocurrencies remains stable and will continue to grow as more and more companies enter the digital money market.
Yuri Mazur, head of the data analysis department at CEX.IO Broker, adheres to a similar assessment.
“It can be assumed that the bitokin rate will continue its smooth wave-like growth throughout 2021.
In our opinion, a correction of the rate is possible, but in the medium term we expect the price of bitcoin to rise to $ 66.36 thousand, "Yuri Mazur concluded in a conversation with RT.