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| Corona revives Bitcoin to over $ 10,000 |
Bitcoin, the most popular popular currency, rebounded over $ 10,300 again as investors resorted to concerns about the economic impact of the Corona virus.
On Sunday, Bitcoin's value exceeded $ 10,000 for the first time since September last year and has continued to rise since then, with Bitstamp's price reaching $ 10,300 now.
Corona recover Bitcoin more than $ 10,000
This represents a major change in the fate of cryptocurrencies in less than 10 years and fell after a sharp increase from $ 20,000 in December 2017 to $ 3,000 in December 2018.
In times of economic or political uncertainty, Bitcoin and other cryptocurrencies added gold as a guaranteed financial asset, although the currency's price fluctuated widely between $ 20,000 in late 2017 to $ 3,000 in late 2018.
Although the Corona virus (officially known as Covid-19) was one of the factors that contributed to Bitcoin's appreciation, one of the main reasons for Bitcoin's increase was the next "half" of cryptocurrency in May 2020 because this limits the supply of digital money. This was the last time that both sides appeared in 2016, and the value of the currency doubled the following year to a record high.
It should be noted that the ability to use cryptocurrencies as an acceptable alternative to traditional payment methods (such as credit cards) in public life was limited by their use for criminal purposes. There is also a lack of government regulations. Last year, financial institutions proposed banning financial instruments related to cryptocurrencies such as Bitcoin and warning consumers who are less likely to understand the risks or values that they may be at at risk of losing.