Bitcoin reaches historic highs in January

These are momentous days for the future of cryptocurrencies. In good and bad, because, while bitcoin is still at historic highs,from the UK they prohibit cryptocurrency cfs because of the high risk of investing in these assets and the European Central Bank (ECB), in the words of its president, has called for full regulation of bitcoin for being “highly speculative”. On the plus side of the balance it is also necessary to include the fact that large companies such as PayPal or Burger King allow transactions with cryptocurrencies.

Fear of growth and, therefore, the acquisition of power from a business that has always been viewed with suspicion by financial authorities; or simply warning after thorough analysis. You could elucube on the reasons that have provoked these critical positions in the face of bitcoin, although what there is no doubt about is that 2021 will be a very important year to know how far the crypto world can go.

At the time of writing, bitcoin is at $38,217.2, according On January 8, 2021, bitcoin peaked at $41,921.7.

“For those who had assumed that bitcoin could become a currency. I'm really sorry.”

On 13 January, the President of the European Central Bank (ECB), Christine Lagarde, was shown tremendously contrary to bitcoin. This, as shown in an information from El País,sent a message to those who believe that bitcoin will become a currency:“I'm really sorry,” Lagarde said. Why? According to the president, because bitcoin is a “highly speculative asset,” which has led to “some fun businesses and fully reprehensible money laundering activities.”

Five days after this cryptocurrency set its record, Lagarde called for global bitcoin regulation. Despite referring to these illicit transactions that are often associated with cryptocurrencies,the president did not talk about ongoing cases, although she did talk about past investigations. She was confident, moreover, that such activities will happen again.

It is striking that, at the same time as Lagarde delegitimates cryptocurrencies – and bitcoin soars to all-time highs– the presiding entity, the ECB, is working on the project to create a new cryptocurrency. The ‘digital euro' could be operational from 2022, Lagarde was sweeping in statements made in November 2020.

While all this happens, Bitcoin trading has soared even despite the risk that the latest rises will be a mere mirage.

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