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Bitcoin Reaches New All-Time High: Market Drivers and Investor Trends
According to t3n, Bitcoin reached a new record value in the night of August 14, 2025, surpassing $124,000 for the first time. This milestone comes after the end of the major crypto hype, with fewer new altcoins appearing on the market. Despite this, Bitcoin investors remain undeterred. The increasing integration of Bitcoin trading into banking apps is notable, with Bunq recently enabling trading for over 350 digital assets, joining providers like Revolut, N26, and Trade Republic. Even conservative banks such as Sparkassen and Volksbanken plan to launch crypto offerings this year. However, not all offers are equally advantageous: Bunq charges between 0.25% and 1.99% per trade depending on the account model, while N26 charges 1.5% for Bitcoin. Specialized crypto exchanges like Bitpanda or Bison have fees between 1.25% and 1.49%. The new EU regulation MiCA ensures that crypto exchanges are now regulated and must keep customer funds separate.
RP Online also reports that Bitcoin's price recently exceeded $124,000, though it fell by four percent on Friday. The main driver is U.S. President Donald Trump, who has declared the U.S. the future hub of the crypto world and announced a state Bitcoin reserve. The approval of Bitcoin ETFs in the U.S. at the beginning of last year has also contributed to the sense of legitimacy. In Germany, investors can only purchase ETNs, which are bearer bonds traded on the stock exchange. Bitcoin is created through computer calculations, with each transaction recorded in a decentralized blockchain. The maximum number of Bitcoins is capped at 21 million, and the process of "halving" regularly reduces the reward for miners. Currently, there are more than 11,000 cryptocurrencies worldwide.
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| Event | Value | Source |
|---|---|---|
| Bitcoin All-Time High | $124,000 | t3n, RP Online |
| Trading Fees (Bunq) | 0.25% - 1.99% | t3n |
| Trading Fees (N26) | 1.5% | t3n |
| Trading Fees (Bitpanda/Bison) | 1.25% - 1.49% | t3n |
| Number of Cryptocurrencies | 11,000+ | RP Online |
- Bitcoin's new record high is driven by institutional interest and regulatory developments.
- Trading fees vary significantly between banks and specialized crypto exchanges.
- The U.S. market is influenced by political support and ETF approvals.
Summary: Bitcoin has reached a new all-time high of $124,000, with increasing institutional adoption and regulatory clarity driving the market. Trading fees and product offerings differ widely between providers. (Sources: t3n, RP Online)
Expert Forecasts: How Far Can Bitcoin Go Before the Bear Market?
Börse Online cites Steven McClurg, CEO of Canary Capital, who expects further double-digit price increases for Bitcoin, but warns of a bear market starting in 2026. Bitcoin recently hit a new all-time high of $124,500, but ended the week six percent, or $7,000, lower. McClurg attributes the rally primarily to massive capital inflows into Bitcoin spot ETFs and positive signals from the U.S. government regarding crypto regulation. He notes that not only small funds, but also sovereign wealth funds, insurers, and pension funds are showing strong interest. McClurg sees a more than 50% probability that Bitcoin could reach $140,000 to $150,000 this year.
Regulatory changes in the U.S. are also highlighted, with the SEC introducing new standards for listing altcoin ETFs, making products on XRP, Litecoin, and other tokens possible from autumn. The new stablecoin law provides legal certainty, and the approval of in-kind creations for crypto ETFs allows investors to fully utilize tax advantages. However, McClurg warns of economic risks: consumer debt is alarming, with student loan defaults higher than in 2009 and rising credit card and mortgage defaults. He expects the Fed to cut interest rates in the fall, which could further fuel the rally, but predicts a broad-based bear market across all asset classes in 2026.
"I see a more than 50 percent probability that we will reach $140,000 to $150,000 this year." – Steven McClurg, Canary Capital (Source: Börse Online)
- Short-term bullish outlook for Bitcoin, with potential to reach $150,000.
- Regulatory progress and ETF inflows are key drivers.
- Economic risks and a possible bear market in 2026 are significant concerns.
Summary: Experts expect further price increases for Bitcoin, possibly up to $150,000, but warn of a potential bear market starting in 2026 due to economic risks. (Source: Börse Online)
Taxation and Documentation Requirements for Crypto Transactions in Germany
Finanzen.net reports that the German Federal Ministry of Finance (BMF) significantly tightened the documentation requirements for cryptocurrency transactions in March 2025. Investors must now document all transactions in detail, even if no taxes are ultimately due. The updated BMF letter from March 6, 2025, replaces the previous 2022 regulations and makes it clear that all transactions, whether profitable or not, must be reported to the tax office and properly documented.
The stricter rules are due to the frequent use of foreign trading platforms, which increases the burden of proof on taxpayers. Investors must independently clarify all facts and provide all necessary evidence. The one-year holding period still applies: profits from crypto sales are tax-free if the tokens are held for more than a year. If sold within a year, profits must be taxed at the personal income tax rate. The tax-free allowance is €1,000 per year for all private sales transactions combined. If this threshold is exceeded by even one euro, the entire profit is taxable from the first euro. Even if no taxes are due, investors must be able to prove compliance with the holding period or the allowance upon request from the tax office.
Accepted documentation includes plausible evidence of wallet addresses and the names of trading platforms for each transfer, such as screenshots or transaction overviews. Tax reports from tools are also accepted if they are complete and plausible. Missing histories or unexplained deposits and withdrawals must be corrected manually. For foreign platforms, all relevant data and evidence must be obtained by the investor. If these are lost, for example due to platform insolvency or hacking, the tax office may estimate values to the taxpayer's disadvantage.
- All crypto transactions must be documented, regardless of tax liability.
- The €1,000 tax-free allowance applies to all private sales transactions per year.
- Accepted evidence includes wallet addresses, platform names, screenshots, and complete tax reports.
- Loss of documentation can lead to disadvantageous tax estimates.
Summary: The documentation requirements for crypto transactions in Germany have been significantly tightened. Investors must keep detailed records and provide evidence for all transactions, or risk unfavorable tax assessments. (Source: Finanzen.net)
Sources:
- 5 Dinge, die du diese Woche wissen musst: Der Bitcoin nach dem großen Krypto-Hype
- Krypto-Steuertransparenzgesetz: Der Staat wirbt unbeabsichtigt für Bitcoin
- Kryptowährung auf neuem Höhenflug: Bitcoin sprengt alle Rekorde
- Kryptowährungsgeschäfte: Bitcoin, Ethereum & Co. gekauft oder verkauft - Diese Belegpflichten bestehen für die Steuer
- Krypto-Experte: So weit kann Bitcoin noch steigen, bevor der Bärenmarkt kommt
- Bitcoin, Gold & Champions-Aktien – intensive Urlaubsdiskussionen vor einer traumhaften Kulisse! - boerse.de
