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Bitcoin exceeds $19,000


 

The price of the popular digital currency Bitcoin during Sunday trading jumped above $19,000 to close to its all-time high.


This price is still below the record high of the world's most famous cryptocurrency at $19,666 in December 2017.


Experts said the rise came after British banking group Standard Chartered announced its intention to launch the Digital Currency Management Service Zodiac. In collaboration with Northern Trust Group


According to conditional approval by the British financial authorities, Zodiac will provide its services for the most traded cryptocurrency assets of Bitcoin and Ethereum, then XRB, Litecoin and Bitcoin Cash.


The world's most popular cryptocurrencies have increased by nearly 160% this year, supported by demand for high-risk assets amid unprecedented financial and monetary stimulus measures, inflation-resistant assets and expectations that cryptocurrencies will be widely accepted.  


Bitcoin gained more than 37% last November alone, and the rise was supported by demand for its inflation-hedged nature and a general trend forecast for acceptance. 


The renewed outcry over Bitcoin is re-arguing about the nature of cryptocurrencies and whether they are digital gold or risky assets.


The currency gained more than 170% in the first 11 months of 2020, with the fact that it was valued at approximately $7,300 at the beginning of the year.


Cryptocurrencies have benefited from the Corona crisis as a safe haven and a hedge against inflation after governments and central banks injected huge stimulus packages, successfully overtaking gold in this year's performance.


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