After Fed President’s Speech, Bitcoin Passes US$10,000 and Hits Highest 2020 Value

RIO DE JANEIRO, BRAZIL – Following a correction in recent days, Bitcoin has regained momentum, extending the 2020 rally after recording the best January in seven years by climbing 30 percent. By late Wednesday morning, February 12th, the main cryptocurrency was up 4.2 percent from an accumulated 24 hours at US$10,342.

With this new drive, Bitcoin hit its peak in 2020, reaching its highest value since early September last year. The accumulated appreciation of the digital currency this year stands at 44 percent.

According to analysts, the jump in the last 24 hours may be attributed to a speech by the Chairman of the US Federal Reserve Bank, Jerome Powell, where he recognized the potential power of cryptocurrencies.

This Wednesday’s positive trend is also seen in virtually the entire crypto market. Yesterday, the leap of 14 percent in the Ethereum, which reaches US$255, is striking, while the Ripple jumped 9.5 percent to US$0.30. In the top 20 of the highest market value tokens, Tezos performed best, shooting up 22 percent, listed at US$3.29.

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