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Bitcoin cracks the 40,000 euro mark again – cryptocurrencies on the upswing – economy

Start a new one here Bitcoin soaring?

After the course of the world’s largest Cryptocurrency Bitcoin started to catch up in the last few weeks. On Sunday (August 8th) the psychologically important mark of 45,000 US dollars (around 38,265 euros) was cracked, and things have continued to rise since then.

Bitcoin was now able to catch up to the EUR 40,000 mark on Friday evening – the price was last that high on May 13th!

The technical chart perspective is brightening noticeably, explained market analyst Timo Emden from Emden Research. Short-term oriented investors in particular were in a buying mood.

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Last but not least, Tesla boss Elon Musk, who once again announced a possible comeback of the cryptocurrency at Tesla at the end of July, is likely to have caused a positive mood in the market.

Musk was long considered a great proponent of the original crypto currency, but then suddenly changed his stance in May. Among other things, the multi-billionaire criticized the high energy consumption of the Bitcoin network.

However, risks persisted, warned the expert. The regulatory issue on the market remains a long-running issue – China, for example, announced a stricter review of the crypto market.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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