Bitcoin's value shoots to very high values. Analysts call for prudence – Business

Bitcoin's value shoots to very high values. Analysts call for prudence - Business



The criptooeda Bitcoin has soared to maximum levels, having valued around 70% since the beginning of May, doubling in value in only two months. It is the highest since June 2018 and its appreciation has benefited from the interest of large institutional investors.

However, analysts are on the defensive, urging caution in the valuation of virtual currency, as they believe that this is a case of overvaluation, says Business. Analysts at JPMorgan Chase noted that the price of Bitcoin will have surpassed its intrinsic value. Other experts warn that the turning point in the trading of the cryptomoeda may be very close.

Bitcoin will be worth $ 8,732.87, up 7.65%, the highest value since last year. The criptomoeda even increased 10% this morning, also causing Litcoin to appreciate 9% and Ether 6%. At the end of March, Bitcoin was worth less than half, in the order of $ 4,000.

The firing of the currency value has to do with the interest of investment institutions such as Fidelity Investments, which will enable the purchase and sale of crypto-coins by its customers. AT & T has revealed that it will allow its users to process payments online through BitPay.

Bitcoin's highest value was in 2017 when the virtual currency was traded at $ 19,000.



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