Bitcoin Gains Value for the Eighth Day in A Row

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Bitcoin’s value rose for the eighth day in a row on Wednesday. That has never happened before this year. In a week, the share price has been increased by about 30 percent. This means that the most critical crypto coin is now worth more than $ 40,000.

 

Recently, the digital currency was worth less than $30,000. The recovery is probably related to the speculation that online store group Amazon will also do something with crypto coins. Investors may have also responded to comments from Elon Musk.

The chief executive of automaker Tesla said bitcoin mining is “shifting to renewable energy”. Tesla stopped accepting payments in bitcoins in May because of its polluting energy consumption.

Still, the currency’s value is still a long way from its mid-April peak. Back then, bitcoin traded for nearly $65,000. After that, the price plummeted.

According to experts, this was partly because Tesla stopped accepting payments in bitcoins due to environmental concerns. In addition, the Chinese government decided to take strict action against so-called bitcoin miners.

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