To enter the world of cryptocurrency investors you need to have steady nerves and a heart of steel because the ups and downs of coins or those that would become the coins of the future are daily and dizzying.
In fact, after a super peak of over 65,000 dollars in value three months ago, bitcoin had lost more than 50% of its value and was trading at 30,000 dollars. Then suddenly, for no apparent reason, the price has broken up again and now the currency is trading at just over $ 50,000.
In reality, beyond the speculation that it is the true queen of the cryptocurrency market, this time some more solid news is spinning and helping the trend.
In fact, 48 hours ago, the payment platform PayPal confirmed that it will allow, for the first time, the purchase and sale of various cryptocurrencies in the UK, in particular bitcoin, ethereum, litecoin and bitcoin cash, through its website.
Jose Fernandez da Ponte, Vice President and General Manager of Blockchain, Jose Fernandez da Ponte motivated this choice by saying that “The pandemic has accelerated digital change and innovation in all aspects of our lives, including the digitization of money and a increased consumer demand for digital financial services. What is certain is that everyone will be able to see and touch this world safely. And then if the regulators approve the system why not? ”.
In addition to PayPal’s opening, two large American banking institutions, Wells Fargo and JP Morgan, have also just launched bitcoin mutual funds, joining Goldman Sachs and BNY Mellon.
The green light to safeguard these types of assets, received in the US in July 2020, was a turning point. Since then, it seems that the cryptocurrency trend in the big world of finance has picked up speed.
The bitcoin market has a capitalization of over $ 900 billion.
But the road to making them full-fledged coins on the world market still seems to be uphill, as Tesla’s Elon Musk hinted when he announced the purchase of $ 1.5 billion in bitcoin and the possibility of buying his own. electric cars in bitcoin in the United States, but then pulled back by closing the possibility of having cars in the face of bitcoin. The reason? The too much pollution caused.