Afshin Sazegar | Bitcoin with strongest rally for one and a half years


Afshin Sazegar | Bitcoin with strongest rally for one and a half years

Afshin Sazegar | Bitcoin has again set a high-altitude flight. The trigger is the hope that China could relax its restrictions on cryptocurrencies. This also fuels the shares of the Bitcoin Group.


Hopes of easing restrictions on cryptocurrencies in China are boosting Bitcoin's track record. The oldest and most important cyber motto rose on Monday by up to 16 percent to $ 9948.80. This adds up to over 33% over the weekend. That's the strongest rally in a year and a half.


The bitcoin boom encouraged investors on Monday morning to join the Bitcoin Group. The shares of the operator of a cryptocurrency exchange in the business of Lang & Schwarz increased by 13 percent.


Optimism was fueled by the Beijing government's plans to test the use of cryptocurrency underlying blockchain technology for cross-border financial transactions.


Against the background of disappointment with Facebook's Libra, most investors had expected falling prices.


But it is questionable whether the current rally is sustainable. In recent weeks, several companies have withdrawn from the Consortium for Libra, the planned cryptocurrency of the online network.


Afshin Sazegar

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