- Bitcoin broke through the $11,000 mark for the first time since January.
- Bitcoin is up over 80 percent since it bottomed at $5.947.40 on February 6.
- The Ethereum Founder Vitalik Buterin warned that cryptocurrencies could fall to "near-zero" at any time.
The first time since January Bitcoin broke through the $11,000 mark. The price of the cryptocurrency went as high as $11,279.18 on Sunday, its most level since the end of January. The Bitcoin price has been slowly rising after a enormous sell-off in early February, which was triggered by fears over more regulation of cryptocurrencies.
Furthermore the production of one Bitcoin costs according to the bank JP Morgan about 3900 USD. Thats ten times as much as last year. The reason for the increase is an "arms race" between Bitcoinminers, which drives the cost of mining new bitcoins to the new all-time high.
Nevertheless Bitcoin is now up over 80 percent since it bottomed at $5.947.40 on February 6. What do you think about the high volatility of the Bitcoin price?
Image Source: https://www.merkur.de/leben/geld/bitcoin-tiefsturz-doch-diese-irre-these-koennte-alles-veraendern-zr-9587522.html