Economy

Wild week ride for bitcoin ends with hangover | Financial

At the beginning of the week, there was still no problem for the bitcoin. The cryptocurrency has continued its impressive rise in recent weeks unabated, with an interim peak to well above $ 19,000 on Wednesday.

With that, the all-time high of just under $ 20,000 was within reach. The continued enthusiasm to get into bitcoin was possibly fueled by positive statements from the PayPal CEO about the use of crypto coins on his platform.

At the end of the week, a rapid cooldown kicked in for bitcoin that took a hard hit in one day to well below $ 17,000. Making America consider tighter rules for crypto coins played a major role in the unexpected dive. The digital currency thus fell to its lowest level earlier this month.

Yet investors in bitcoin have no reason to complain this year. The crypto coin was still close to $ 7,000 at the beginning of January. After bottoming out in March to just below $ 5,000 in response to the outbreak of the corona crisis, the digital currency has been on a scenic drive up as of April.

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