Bitcoin October marks new peak in 2020
Digital currency is the great highlight of the investments in the year, according to a survey.
Many stocks, fixed income, among other investments, occupy the idea of investors in Brazil. Bitcoin lives then another month of prominence in October, when reaching an important high mark in the month.
In fact, Bitcoin is one of the highlights in emerging countries, not only in Brazil today. This is because, with the US Dollar being a strong currency in several countries, local currencies lose strength.
At the end of August, Bitcoin was the valorization champion, returning in October.
In a year of high inflation, Bitcoin reaches an important mark in October after a great price increase
Brazilian investors have had an extended weekend and can reflect on 2020 so far. With a year of great uncertainty in the global economy and health, protecting capital is an arduous task.
Some have observed traditional hedge assets, such as gold, for example. Others have looked at innovative assets such as Bitcoin. Living a unique moment in its history, digital currency sees an important price movement.
In Brazil, the price of Bitcoin is up 166% in 2020, according to Valor Econômico. With the close of October, the price of the digital Bitcoin registered an increase of 28%, that is, a giant appreciation. This comparison was in relation to the Brazilian Real.
The move up is one of the most important of Bitcoin, which reduced its inflation by half in May 2020. With the process called halving, the emission of Bitcoin in the world saw a drastic reduction.
On the other hand, central banks have increased money issuance in several countries. The so-called economic stimuli are still seen as dangerous by many attentive investors.
In Brazil, rental inflation, the IGP-M, rose 3% in October, up 18% in the year. The IPCA already rose 2.1% in 2020, surpassing the current Selic rate, set at 2% by Brazil’s Central Bank. In addition, the Ibovespa registers a drop of 18% in the year, at the close of last month.
Higher value at Bitcoin monthly closing since December 2017
With Bitcoin currently quoted at around U$ 13500, or R$ 77600, the currency operates in drop this second (2). Nevertheless, last Saturday (31), Bitcoin made history with last month’s high.
However, with the Bitcoin being worth over U$ 13 thousand, this was the first time that the currency ended a month above the value. According to analyst Joseph Young, the Bitcoin mark in October is important for the history of the currency.
In addition, throughout the history of the Bitcoin, almost 12 years old today, it is worth noting that a few days the price of the currency was worth over $ 13 thousand. According to a graphic survey published by analyst Travis Kling, on October 31st, Bitcoin was only traded above U$ 13 thousand for 48 days (50 today).
Anyway, Bitcoin is experiencing an interesting time for investments in the year. In Brazil and in the world the currency valuation is noteworthy and attracts more and more companies to the ecosystem. PayPal entered the market of cryptomoedas in October and may have helped in the movement of high