The oldest and most widespread cryptocurrency was attracted over the weekend by interest, especially from institutional investors. Bitcoin approached an all-time high of about $ 1,300. On Sunday, however, he gradually lost his previous profits.
Bitcoin has started to grow significantly since the beginning of February. Rather, previous developments resembled the search for a lower psychological frontier from which Bitcoin could bounce up. It turned out that this local minimum is a price slightly below $ 30,000, where the cryptocurrency got twice in the last decade of January.
For a while, investors were looking for alternatives that would provide a higher rate of appreciation in the short term than Bitcoin, which seems to have found its current ceiling. Or rather the guardrails in which its price fluctuates.
On Saturday, however, came a strong buying impulse, which Bitcoin drove again over $ 40,000. On Saturday before midnight Central European Time, the price of Bitcoin peaked at $ 40,423. Shortly afterwards, however, it began to decline steadily below 38,000. According to analysts, the growth was driven by institutional investors, who temporarily drove the price up. In the following days, a so-called “side” price shift is likely.
