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Cryptocurrencies: A ray of hope for users

10/09/2021
Categories: Economy/Forex

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Since its trough below $30,000 in July 2021, bitcoin has found a second wind and is on the rise again despite the shocks from both sides. Even as the cryptocurrency leader floats in the market, the current momentum reassures once-desperate users over the drastic drop.

                       

At the close on Monday, September 6, 2021, bitcoin was up 81% from this year's low of $27,734 on January 4. It was its biggest twenty-one-day advance since February, when bitcoin was on its way to its all-time high of $64,804 in April. Stimulated by renewed interest from institutions and individuals, the number 1 cryptocurrency is dragging other blockchain currencies into its dynamics. The world's largest and best-known cryptocurrency soared over the weekend (+2.9% from Friday to $51,597), hitting $52,214 on Monday, its highest since mid-May. Ether, the coin linked to the ethereum blockchain network, rose 1.16% to $3,932.07 on Sunday, adding $44.97 to its previous close. Enough to fuel all the hopes of the fans, who again predict its soaring towards 100,000 dollars. And this, despite ever-increasing regulatory promises from the financial authorities, and recurring criticism of its environmental impact.

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