Bitcoin exchange rate to UAH
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Bitcoin, like most other cryptocurrencies, is characterized by instability, strong dynamics and exchange rate volatility. The quote of a coin on the crypto market is influenced by many factors, including:
- the ratio of supply and demand;
- the cost of mining;
- limited emission;
- availability of coins on exchanges;
- the level of competition from altcoins;
- government regulation, acceptance of Bitcoin as an official means of payment;
- spreading the acceptance of Bitcoin as a full-fledged means of payment;
- information field: news and publications of influencers;
- the global political and economic situation in the world.
It is difficult to predict the Bitcoin exchange rate, but certain trends can still be tracked. Despite the collapse that the cryptocurrency suffered in May, having lost almost 50% of its value, it still has the potential for further growth and positive course movement. So, in the long term, the key player in the crypto industry has every chance to regain lost positions and reach a new level of development.
According to analysts, Bitcoin can still reach the $100,000 mark. The worst possible scenario is a price drop to $21,000. And even if the Bitcoin rate continues to fall, then, most likely, the value of the coin will begin to grow again. This is not the first and not the last time this has happened. Such corrections are the norm for a highly volatile asset. This is evidenced by the chart of the Bitcoin exchange rate over the past three years.
In January 2019, the Bitcoin exchange rate did not even reach $4,000, and already in July of the same year, one coin cost $12,000. 2020 began for cryptocurrency at $7,000, and until December, the Bitcoin exchange rate showed relative stability. At the end of 2020, the value of the digital asset began to skyrocket, and 2021 began for the digital asset at $30,000.
In April of this year, the cryptocurrency reached its historical maximum of $63,000, and already in May, the coin almost doubled in price. The Bitcoin exchange rate against the hryvnia at the beginning of June 2021 does not even reach one million. The negative news background became the prerequisite: Tesla announced the refusal to use cryptocurrency as a means of payment, Elon Musk repeatedly criticized Bitcoin, and the Chinese authorities put regulatory pressure on the crypto industry and called for strict regulation of mining and trading.
As of the beginning of June 2021, Bitcoin is trading at $35,000. To find out the current exchange rate of Bitcoin against the hryvnia for today, use the online Bitcoin rate calculator.
