The cryptocurrency is up around 50 percent in value this month.
(Photo: Reuters)
Dusseldorf Bitcoin is stabilizing above the $ 60,000 mark after the recent setback. According to data from the analyst firm Coinmarketcap, the price of the oldest and most important on Friday afternoon was around $ 63,000. On Wednesday, the cyber currency had reached a new high of 66,930 points, but then fell to around 62,000 dollars on Thursday.
“A consolidation movement is necessary in view of the overheating prices,” explains crypto analyst Timo Emden from the analysis company of the same name. Bitcoin has risen by more than 50 percent since the beginning of the month – the entire crypto market has risen by almost 40 percent.
In the short term, Emden therefore considers price fluctuations possible: “Since numerous private investors have now moved to the sidelines, the situation is now explosive. Investors shouldn’t be surprised by a major slide. ”This could in turn be used by those investors who missed the latest rally to get in.
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