On January 18, 2020, according to Investing.com,bitcoin closed with a value of $8,916.3. On January 18, 2021, it was $36,613.2. This assumes that bitcoin has grown by 310.6% in a year. A very sharp increase that, for those who already trade cryptocurrencies,will have been a recognition of the success in their investment and some more zero in their e-wallet.
The remarkable rise in the value of bitcoin is, for its advocates, confirmation that bitcoin has arrived to stay. Critics, however, are waiting for crouching down to reiterate the usual criticism: that its extreme volatility makes it a very unreliable asset. And the trend of the last few days is sure to give them wings to think that the debacle is close, even though specialists do not glimpse the future of this virtual currency.
After reaching bitcoin's all-time record on January 8 ($41,921.7), at the time of writing this article stood at 34,652. That is, in less than two weeks it has lost 17.3%, in a continuous but sustained decline. The next few days and months will be vital to try to guess what the short-term behavior of bitcoin will be.
Bitcoin would be the world's largest bank
J.P. Morgan's CEO said in 2017 that bitcoin was a “fraud” and that those who traded with this virtual currency (something he himself acknowledged his daughter did) were “stupid.” Two years later, J.P. Morgan launched his own critptomoneda and, just a few weeks ago, from this financial institution they said that bitcoin is going to reach $146,000 and that it will be able to unseat gold as an active refuge par excellence.
Accused reversal, therefore, the one he has given in his opinion on cryptocurrencies. J.P. Morgan is the world's largest bank by market capitalization:it exceeds $413 billion, according to Expansion. Which means that, if it were a bank, Bitcoin would be the largest bank on the planet,since the current capitalization of this cryptocurrency exceeds $700 billion. J.P. Morgan may have started taking Bitcoin seriously and hence its change of stance.
Ethereum grows by 622.3% in a year
Although the behavior of bitcoin in the past year pushes to think that it may be a good time to invest in cryptocurrencies,the slight negative trend of the last few days shows that it is something that can never be known for sure. Historically, this cryptocurrency (its critics are right) has had excessive volatility and the million-dollar question is whether it will finally achieve lasting stability. However, the best thing if you are thinking of trading cryptocurrencies is to do so advised by a professional. Any of the online brokers we show you on OkBrokers are.
In addition to bitcoin, on this website we also offer the possibility to trade ethereum. And, if the rise of bitcoin is dizzying, what to say about ethereum: it has gone from $174.19 on January 18, 2020 to 1,258.06 a year later. By 622.3% it has increased its ethereum value by one year. The historical peak of ethereum has just occurred: on January 19, 2021 it reached $1,437.42 and, when this text is drafted, it is at 1,298.63.
The most important cryptocurrencies have started 2021 very strongly and the forecast is that they will keep this line up in the coming months. It may be the definitive year of consolidation of virtual currencies and, to this, helps the fact that large companies already allow bitcoin transactions. This is the case, for example, PayPal or Burger King.