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Bitcoin gains more than 40 percent per month

Bitcoin, as the most widely used cryptocurrency in the world, has become one of the best performers in the financial markets this month.

Photo: Pixabay

The Bitcoin’s value jumped in May by 44.74 percent, reaching its  maximum level of $8,752 on on May 27.

The cryptocurrency has risen and began an active rally since the beginning of this year against the background of various factors, including trade friction between China and the USA.

In the current turbulent economic environment, according to analysts’ opinion, investors began to consider digital currency as a potential safe haven asset.

The cryptocurrency climbed to its peak at the end of 2017, when the maximum value hit almost $20,000. Bitcoin still has something to work on in order to return past “achievements”, but it climbed this week to a 52-week high.

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Altcoins  also dipped on Friday:

  • Ethereum lost 2.50 percent to 256,66;

  • Ripple eased 2.14 percent to 0.4201;

  • Bitcoin Cash fell by 3.28 percent to 424.70;

  • Litecoin sank by 2.61 percent to 107.92.