On video: Power plant restarted to mine Bitcoin/Angular
Much excitement is flooding the crypto market, after Bitcoin (BTC), the leading currency, touched the price of $69,150 for the first time in history!
The vision of Satoshi Nakamoto, the anonymous inventor of Bitcoin, is making names just over 15 years after its creation.
Today (Tuesday), the price of Bitcoin is trading at the highest price in its history.
As of writing these words, Bitcoin is trading at a rate of 68,200 after having managed to visit 69,150.
Bitcoin completes a weekly increase of about 20%, when in the last month of February alone, it added about 55% to its value.
Ethereum (ETH), the second largest currency in the crypto market, did not remain indebted, and also soared 17% in the last week alone.
The more extreme and speculative price increases are marked by "small" tokens and coins, Dogecoin, Elon Musk's favorite, and other Mime-Coins, completing increases of hundreds of percent in the last month.
There are many factors that have contributed to this meteoric rise, the main of which is a huge flow of capital from hedge funds in recent weeks.
Bitcoin.
Historic record/ShutterStock
Many institutional entities, the most notable and largest of which are the asset managers Blackrock and Fidelity, have launched basket funds on Bitcoin, which made it easier to expose it to many investors from all over the world.
Another factor is the crossing event (The Halving) which occurs every 4 years, and is expected to occur in the middle of April this year.
In the crossing event, the amount of Bitcoin coins produced in each block in the Bitcoin network's block chain is halved, which reduces the rate of renewed supply in the market.
Demand for Bitcoin remains high from both institutional and individual investors, many companies, such as MicroStrategy, have purchased large amounts of Bitcoin as part of their investment strategy.
In addition, the adoption of the field in general and Bitcoin in particular by large companies raises awareness of the property and encourages more investors to enter the market.
However, it is important to note that this is a very volatile market, and the issue should be treated with caution.
Before investing in digital currencies, it is important to do thorough research and understand the risks involved.
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Bitcoin is at an all-time high, but Israel will not take part in the celebration
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Nir Hirschman, CEO of the Blockchain and Web 3 Crypto Companies Forum, said that "We are at the beginning of the current digital currency cycle.
The increase in the rates brings with it many investors who want to invest in the development of companies and teams looking to build the technology of the future of digital currencies.
Israel must not miss this train, and the government and the regulator must act immediately to release the barriers that prevent this industry from developing in Israel."
Naa Mashiach, CEO of the Israeli Bitcoin Association, said that "we must remember that just as the rate rose quickly, so it can fall. It happened In the past, therefore, it is difficult to say what the next stop will be or when it will arrive. It is worthwhile to learn about Bitcoin technology, to understand the meaning of the digital revolution that Bitcoin brings, and only after learning what it is about can you decide whether to enter this market or not.
"The current increase is mainly due to the expression of confidence on the part of The institutional bodies, which launched 11 hedge funds following Bitcoin.
A move that introduced many holders with more traditional characteristics to the market.
"The increases resulted in the market value of Bitcoin rising above a trillion dollars. Another fundamental event that is expected soon is the block crossing - the event is built into the Bitcoin protocol and repeats itself every four years or so - the crossing will reduce the supply of the new coins that will be produced, and in the past this event led to an increase in the price of Bitcoin And it will probably affect its price this time as well."
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