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For the first time in 3 years, Bitcoin reached the highest level, PayPal will get a chance to buy virtual currency
The Bitcoin price has crossed $ 18,000. Bitcoin was last traded in December 2017 at over $ 18,000. The price of bitcoin is now moving towards its highest level. At the end of 2017, it had crossed the $ 19,783 level.
This year, cryptocurrency has been steadily increasing. With this increase, now the price of bitcoin has crossed $ 18,000. This is the first time since December 2017, when bitcoin managed to cross this level.
On Wednesday, the price of bitcoin was trading at $ 18,172, up 8.6 percent. According to CoinDesk, this is the highest level of bitcoin after 20 December 2017.
In the year 2020, bitcoin is considered very special for investors. This year, bitcoin has seen an increase of more than 150 percent so far. Bitcoin investors say they are excited about monetary and financial stimulus across the world amid the Covid-19 crisis. Bitcoin investors are also excited by the fall in interest rates.
With this increase, it is also seen that the price of bitcoin is now moving towards its highest level. At the end of 2017, it had crossed the $ 19,783 level. However, after touching this level during that time there was also a big drop in bitcoin. In 2018, it had dropped to about $ 3,122.
Currently, many people associated with cryptocurrency say that the situation this time is completely different from 2017. This time Fidelity Investments, Square, and PayPal have also played bets.
Recently PayPal has introduced the facility to buy, hold, and sell virtual currency to its customers. It is possible that this payment giant will also offer its customers shopping through cryptocurrency from the beginning of next year.
According to data from CoinMarketCap, now the total market cap of bitcoin has reached $ 337.2 billion. In December 2017, it stood at $ 331.8 billion. Bitcoins are market cap multiplied by the total number of bitcoins multiplied by the price of one bitcoin.
This increase in the market cap of bitcoin has also increased due to the higher number of cryptocurrencies as compared to 2017. A total of 21 million bitcoins can be produced worldwide.