The Price of Bitcoin Crossed $60,000 Again
The price of Bitcoin crossed the $60,000 mark near its peak a few hours ago. The $2,000 jump happened in three hours.
According to CoinDesk, the price of bitcoin has been fluctuating in the range of $52,000 to $59,000 in recent weeks. This is the first time in about a month that the price of Bitcoin has crossed $60,000. After crossing $60,000, Bitcoin peaked at $60,900 but was later corrected and is currently trading in the $60,800 area. The previous peak of the bitcoin price was recorded in mid-March.
Analysts are still unsure about the reason for the price increase. The price of Bitcoin reached $60,000, just a few days before the start of trading of shares of the stock on the Nasdaq Stock Exchange. The offering of Coinbase shares in Nasdaq is one of the most anticipated developments in the field of digital currencies. According to analysts, the offering of coins is a sign of market maturity. They believe that the offering of shares in this exchange will pave the way for further growth in this area.
Daniel Loeb, managing director of the $17 billion Third Point hedge fund, said in a recent interview that he was a Hudler. There are probably many people like Loeb among institutional investors. According to experts, the inflow of large amounts of capital in 2020 and 2021 by large-scale investors has been one of the main factors in the jump in bitcoin prices and the recording of a new historical peak.
Bitcoin buyers increased their activity on Friday after the announcement of the possibility of obtaining licenses for tradable funds on the Bitcoin Exchange (ETF) in the United States. The US Securities and Exchange Commission (SEC) has previously announced that it has begun reviewing WisdomTree’s ETF application.
The commission last month began reviewing VanEck’s ETF request. Six other companies have submitted preliminary forms for the legalization of investment instruments to the US Securities and Exchange Commission.
Activities in the field of digital currencies have seen a lot of upheaval in recent months. These included the increase in Decentralized Finance (DeFi), Non-Alternative Tokens (NFT) and Altcoins such as Dogecoin, which experienced tremendous growth.