Bitcoin rose to a peak of nearly 3 years today, Friday, as investors continued appetite for the virtual currency in light of expectations that it will surpass by a wide margin its highest levels ever at just under $ 20 thousand.
Bitcoin – the most popular digital currency – increased to $ 18,766.79, the highest level since December 2017, and in recent transactions it was up 4.9% at $ 18,696.
Bitcoin has increased 17% since the start of the week, its biggest weekly gain since June 2019, and is up 160% this year.
The value of Bitcoin had decreased by 50% at the beginning of the Corona epidemic in mid-March last year, but it started in a continuous recovery phase.
A marked increase in demand for cryptocurrencies was seen in emerging markets. For many in these markets, cryptocurrencies have become a major tool to mitigate currency exchange risks when the local currency loses significant value against the dollar.
Virtual currencies do not have a serial number and are not subject to the control of governments and central banks like traditional currencies, but are dealt with only via the Internet, without a physical presence of them.