Bitcoin shoots and approaches the R$ 80 thousand; understand what is behind the high

Great announcements have moved the market in the last weeks and boosted bitcoin

Bitcoin continues on a strong rise and hillside at R$ 80,000 less than a week after registering a new historical record by exceeding R$ 70,000.

In dollars, BTC is traded at US$ 13,700, the highest price of the year. Even after a fall earlier this week, and an apparently nervous stock market. Yesterday, for example, the Dow Jones sank 2.3%, but Bitcoin Storm remained stable at around $13,000 after falling briefly to $12,785.

The last time Bitcoin investors saw such a high dollar price was on June 27, 2019 and before that in January 2018.

These short-term gains further strengthen investors‘ long-term optimistic outlook. The Bitcoin is up since the market crash in mid-March. The outlook has remained roughly the same since then – with peaks higher and higher.
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What has happened in the last days that is driving the high

Several movements by major players in the global financial market have given investors cause for optimism. To begin with, in September, MicroStrategy announced the purchase of US$ 425 million in bitcoin. This was the first public purchase of a company listed on the US stock market.

Following the example, Square, which has as co-founder Jack Dorsey, creator of Twitter, also announced the purchase of US$ 50 million in bitcoin.

Last week, no less than Paypal also entered the move. The giant of the digital payments market has announced that it will allow its clients to buy, maintain and sell bitcoin and several other cryptomoedas directly through their accounts.

Finally, on Tuesday (27), two more news items moved the market: DBS, the biggest bank in Singapore and Southeast Asia, said it will launch a cryptomotic brokerage house. And JPMorgan, the largest bank in the US, said it has started using its cryptomeda for the first time for international payments.