Why is bitcoin soaring

Posted on 8 Dec. 2020 at 5:00 p.m.

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Bitcoin goes up, it goes up! Passed close to the symbolic threshold of $ 20,000 on November 30, it is worth twice as much as in August. And some are already announcing continued progression to stratospheric heights.

More reasonably, it should be remembered that this is not its first breakthrough at this level and that it could be followed by dives in the past, as in December 2018 when the digital currency had fallen back to 3,350 dollars. However, the situation is unprecedented in that bitcoin usually soars when the stock market goes down. However, that of New York is at its all-time high, while in Paris we have had the best month of November for over 30 years, with a gain of 20%.

Is bitcoin on the way to maturity? It is still a young asset and a very speculative product and the AMF, the policeman of the Stock Exchange, has been warning investors in recent months against its mirages and scams. The fact remains that bitcoin is becoming institutionalized. In New York, the S&P Dow Jones Company plans to launch in 2021 a series of indices that will be based on more than 550 cryptocurrencies traded around the world.

The Story is a podcast of “Echoes” presented by Pierrick Fay. This episode was recorded in December 2020. Editor-in-chief: Clémence Lemaistre. Guest: Nessim Aït-Kacimi (journalist at “Echos”). Director: Willy Ganne. Music: Théo Boulenger. Graphic identity: Upian. Photo: Reuters. Sounds: Kryp Tina “Love You Like A Bitcoin”, Jam Campus “The Bitcoin Song”, France tv sport, Europe 1, Louis Tsu “Not a Shitcoiner”, Autorité des marchés financiers, Ganesh2.

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