Interest in cryptocurrencies has increased in the Czech Republic but is still lower than last year. According to statistics from the country’s largest cryptocurrency trader Bit.plus, Czechs bought more cryptocurrencies in April than a month earlier, with the volume of trades increasing by about CZK 10 million. However, interest has fallen by 12.5% yearly, reducing to CZK 350 million.
In the first four months of this year, Czechs conducted trades with cryptocurrencies worth more than CZK 1.16 billion. Although still impressive, it represents a 22.5% decrease compared to the same period last year. “The recovery caused by the rising exchange rate, which attracted new investors, continued in April,” said Martin Stránský, the CEO of Bit.plus.
Bitcoin and Ethereum are not alone. There are nearly 10,000 cryptocurrencies in the world. For example, Bitcoin was trading at CZK 380,890 at the beginning of this year, according to the specialized server CoinMarketCap, which monitors prices from several hundred exchanges worldwide. Currently, its price is CZK 614,140.
Cryptocurrencies have gained attention due to the recent turmoil in the banking sector, which has caused many investors to seek alternative ways to invest their funds. Analysts have attributed the surge in cryptocurrency prices over the last month to this trend. It’s not just cryptocurrency prices that have risen; government bonds and gold have also increased in value.