Weakening US currency: Bitcoin passes the 100,000 US dollar mark again
Just a month ago, Bitcoin plummeted. Now another jump has ensured that one Bitcoin is worth over 100,000 US dollars again.
(Image: Jaruwan Jaiyangyuen/Shutterstock.com)
For the first time since February, one Bitcoin costs more than 100,000 US dollars; in euros, it is still a good 91,000, also thanks to the weakening US currency. Since the beginning of the week, the most important cryptocurrency by far has gained almost 6% in value. However, the majority of the recent price jump has occurred since yesterday, Thursday. Other cryptocurrencies have seen even steeper rises in the same period; according to Coinmarketcap, the price of Ethereum, for example, has risen by more than 16% in the past 24 hours. Bitcoin is therefore not far off its all-time high, which was reached in December.
According to CNBC, the latest price rise began after US President Donald Trump's administration promoted a trade agreement with the UK. It is the first since the announcement of high tariffs for almost all countries in the world, which were quickly suspended for most of them. New agreements were to be negotiated during the 90-day break and the first result has now been achieved with the United Kingdom. Bloomberg adds that the fact that the US dollar has once again surpassed the 100,000 mark also underlines how great the demand for digital currencies continues to be. At the same time, however, the US dollar has lost almost 10 percent of its value against the euro since February.
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However, the recent jump above the psychologically significant mark also highlights once again how great the fluctuations in the value of the cryptocurrency are. Just a month ago, the price of Bitcoin fell below USD 75,000 following the announcement of Trump's tariffs, dropping by more than 8% in just one week. Other cryptocurrencies plummeted even more. Donald Trump himself was a critic of cryptocurrencies during his first term in office, but has since changed his mind. In return, his election campaign has received millions in donations from the industry. He is now also promoting his own memecoins.
(mho)
