Bitcoin recorded its largest rise since last July

The cryptocurrency Bitcoin recorded on Friday its largest since last July, to break the narrow range of movement for the first time in nearly two years, in the context of the rise in stock prices to exceed the level of 20 thousand dollars per unit; As a result of the decline in the value of the dollar, which increases the demand for higher-risk assets such as digital currencies.

And the Bloomberg news agency reported today, Friday, that the largest digital currency in the world rose today by 10.1% to $ 21,341 per unit as of twelve five minutes into New York time, its highest level since July 19.

Bitcoin also outperformed most other digital currencies in terms of the rate of increase, including Ether and Cardno. Despite this, the price of Bitcoin and Ether is still less than its level at the beginning of this year by regarding 50%.

Tarusha Mittal, co-founder of the Unifarm cryptocurrency platform, said that it is too early to say that digital currencies are usually on the rise once more, but if the price of Bitcoin rises to between 22 thousand and 25 thousand dollars per unit, it can restore investor confidence and increase demand for it, so it rises to levels higher.

The Bloomberg dollar index of the value of the dollar fell once morest other major currencies by 0.9 percent, following rising earlier this week to a record level.

All 10 of the world’s major currencies rose once morest the dollar today, with the Australian and Norwegian currencies leading the rally.

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