Bitcoin rises compared to the US dollar.
Image: keystone
While the stock markets are under pressure, the upswing in the Cryptocurrencies continue. The Bitcoin rose above 55,000 US dollars on Wednesday for the first time since May after it had already hit the mark the day before of 50,000 dollars.
Other crypto currencies such as Ether, XRP or Dogecoin also continued to grow. “The crypto fever has obviously grabbed investors again,” commented analyst Timo Emden from Emden Research. «The fear of a crypto ban in the USA is disappearing from the eyes and thus from the minds of stock marketers. » The subject of regulation has been dominating the crypto market for some time.
The current high level of US inflation could also be cited as a reason for the upturn in digital currencies, according to Emden . Bitcoin and the other currencies have been a popular instrument of diversification since the outbreak of the pandemic, in order to oppose the “brilliant central banker support”. (sda / awp)
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