The cryptocurrency market is booming today as Bitcoin exceeds the $ 40,000 mark and the eater’s eater has an all-time high.
Bitcoin now trades just over $ 40,000 per single coin, just over 16% over the past seven days. The digital currency recovered from a declining market in late December / early January, dropping it to as low as $ 31,000. Such titanic drops are not uncommon in the extremely volatile cryptocurrency market.
Bitcoin is a digital currency created by ‘exploiting’ a blockchain, which rewards users who solve complex comparisons. Although some compare it to the tulip greed and other speculative investments, it has attracted numerous world-class investors and financial institutions in particular over the past six months.
Only 21 million Bitcoin will ever exist in the complex system, making it a finite resource.
The Bitcoin tree is a tide that lifts other boats. Such alt-currencies as Ethereum’s Ether (now $ 1700) and Litecoin ($ 157) are also at or near record levels, increasing overall markets. Other currencies are also increasing, which is a red-hot market in early 2021.
Overall, a robust cryptocurrency market means good things for new businesses for entertainment, as investors who come up with extra cash when their cryptocurrencies rise are likely to support the disruptive new companies.