For the first time on February 15, the price of bitcoin reached close to $50,000. What is the reason for this boom and what lies ahead and what precautions should be taken by those investing in it …
During the trade, the price of this cryptocurrency had reached $ 49,344. Bitcoin is now trading near US $ 48,000 after some selling.
What is the reason for this rise in bitcoin?
With the increasing acceptance of this Cryptocurrency, people are investing heavily in this digital currency. After the huge investment of $1.5 billion in Bitcoin by Elon Musk’s company Tesla in February, the whole world has got this attention. In May 2020, well-known fund manager Paul Tudor Jones described bitcoin as a good asset for the store of value. After that other companies and investors got attention on This Cryptocurrency, due to which the currency has been continuously in discussion.
Bitcoin is the world’s first and most popular cryptocurrency. Its rival cryptocurrency ‘Ether‘ has also shown a growth of 150% in this financial year.
Don’t worry too
Amidst the huge surge in this Cryptocurrency, some experts believe that it can happen in the digital currency bubble. Apart from this, the ban on cryptocurrency is also being done by the governments of many countries, due to which there is some concern about the future of this Cryptocurrency.