22.02.202113:26 Forex Analysis & Reviews: Bitcoin hits new all-time high

Bitcoin traded above $ 58,000 on Sunday, marking a new historical high.

To put it more precisely, its value jumped by 2.12% and hit $ 58,100.

Meanwhile, according to CoinMarketCap, BTC rose by 1.68% and traded at $ 58,113.

Bitcoin has been increasing in price since December last year. In fact, it already broke above $ 20,042, which is the all-time high reached in 2017. This 2021, price continued to jump especially after Tesla's $ 1.5 billion investment in the cryptocurrency. Now, Bitcoin continues to break records.

As a result, to date, many longtime adherents of cryptocurrencies not only consider BTC a virtual analogue of gold, but also actively use cryptocurrency technologies in trade, payments and lending. Other investors are sure that direct purchase of Bitcoin or other tokens is too risky a way to make money on the trend of virtual currencies. At the same time, experts in the field of the cryptosphere say that skeptics should think about joining the ecosystem that is forming around digital assets. After all, the point here is far from profit or speculation in cryptocurrency rates, but in the processes that they provoke the financial and banking spheres.

Of course, BTC can not be considered yet a usual means of payment, since holders perceive it as a long-term investment. However, wallet providers hope that digital money can become the main payment method in the future.

For example, last year, PayPal added the function of buying and selling cryptocurrency through a partnership with Paxos. PayPal is also slated to allow users to pay using digital currency this year as if they are using a regular credit card.

Mastercard also announced the same decision of supporting cryptocurrencies, in particular stablecoins.

According to PayPal, users who choose to purchase digital currency subsequently use the app twice as often. Therefore, in recent years, it has become increasingly obvious that, no matter how skeptical investors in the banking and financial sectors are about the spectacular growth of Bitcoin, they still should not neglect cryptocurrency.