Record increase in bitcoin price
Web Desk 29 December 2020
The value of the digital currency bitcoin price exceeded 25 25,000, on Sunday it crossed 28 28,000 but later fell.
According to the international website, the price of the world’s most famous cryptocurrency bitcoin price has crossed the limit of 25,000 for the first time and also set a record of reaching 28 28,000.
The value of the bitcoin crossed 28 28,000 on Sunday, but fell to between 26 26,000 and 27 27,000 on December 28.
At present, the value of one unit of this world currency, or let’s say one rupee, has reached more than 26,700 dollars (about 4.3 million Pakistani rupees).
The market value of this digital currency reached 500 500 billion for the first time on Sunday.
Bitcoin crossed the 20,000 mark for the first time 12 days ago and looks set to hit the 30,000 target this week. It has attracted a lot of investors this year who are buying it for potentially immediate profits.
Investors are investing in bitcoins and other cryptocurrencies during the Code 19 epidemic.
Such fluctuations in bitcoin prices are not new, as seen in 2017, but analysts say prices are more likely to remain stable this time around than in the past.
According to analysts, the corrupt currency is being bought by more investors at the company level.
He said that investors are also interested in cryptocurrency because they see more opportunities in this sector in the future.
The currency had risen more than 900 percent in 2017 to close to ڈالر 20,000, but financial experts warned that the price could fall sharply.
Then it happened and in February 2018 the price went below 7,000.
Given the rise in the value of the bitcoin, some experts have predicted that this trend could continue in the coming weeks.
Some experts believe that bitcoin could be an alternative to gold as it is being accepted by big companies like PayPal.
At 92.8 terawatt hours annualized, bitcoin’s power consumption is slightly ahead of Pakistan’s consumption in 2016, and not wildly away from the Netherlands’ consumption that year. Put a different way, the electricity consumed by minting bitcoin could power all the tea kettles in Britain for 21 years.
Two-thirds of bitcoin production is done out of China. More than half of China’s energy output comes from coal, so the bitcoin production is likely to be particularly dirty.
The U.S. is in second place in terms of bitcoin production, with an estimated 7% of all bitcoin production, which puts it slightly ahead of Russia and Kazakhstan.