The cryptocurrency markets have soared in the past 24 hours as billions of dollars have flooded the cryptocurrency. Bitcoin’s value hit an all-time high (ATH) again on Wednesday morning (EST), hitting $ 64,895 per unit. The recent price hike leads to the upcoming direct listing of Coinbase on the Nasdaq.
The crypto economy is worth $ 2.2 trillion
Digital currency fans will be delighted Wednesday morning as a number of new wins were posted across the area Crypto economy. The entire crypto economy is currently valued at $ 2.2 trillion and is up over 4% today. Bitcoin (BTC) hit a high of $ 64,895 per unit and is currently trading at $ 64,229. BTC is up over 2.6% today and 15.5% in the past seven days. Despite the new ATH, Bitcoin (BTC) Dominance among the 9.215 Today, cryptocurrencies only exist 53%.
Ethereum (ETH) captured some of that dominance when the crypto asset ether was swapped for $ 2,380 per unit. This means that ETH now has 12.3% of total market capitalization. ETH is up 7% today and 21% over the week. Behind ETH is Binance coin (BNB), That is trading for $ 572 a coin. BNB is up 1.9% today and a whopping 52% last week. XRP managed to push the leash (USDT) from the fourth position as it is currently trading at $ 1.82 per unit.
Cardano (ADA) trades for $ 1.46 per coin, Polkadot (DOT) swaps for $ 42, and Litecoin (LTC) hovering around $ 272 a coin. Uniswap (UNI) is currently trading for $ 35 per unit and is up 1.3% today. The tenth largest market position is held by Dogecoin (DOGE) The trade is priced at $ 0.141 and is up a whopping 86% on Wednesday. DOGE pioneered 24-hour gains among the top ten crypto assets.
– Documentation of Bitcoin 📄 (@DocumentingBTC) April 14, 2021
“Bitcoin expands its reach”
Shortly before the Coinbase direct listing and as BTC has touched a new ATHA large number of investors and crypto managers are very positive. “Bitcoin has continuously moved out of its niche, that’s no secret,” Eric Demuth, Co-CEO and Founder of Bitpanda told Bitcoin.com News. “Whether it is more coverage in the mainstream media or the introduction of Bitcoin trading infrastructures by large banks like JPM or Goldman Sachs. The crucial step was likely the first investments by S&P 500 companies. “
Today Bitcoin is expanding its offering to private customers and is becoming increasingly important as an investment for companies and pension funds. The record rally of the past few weeks was due in part to the entry of institutional funds. And yet it seems like opinions are polarized, leaving only two extreme positions on the subject: those who consider this cryptocurrency to be the holy grail, and those who still refer to it as a purely speculative object and try to make Bitcoin obsolete with it and wrongly devaluing myths.
Pantera Capital forecast the current price range of Bitcoin last year
In addition, many others are quite optimistic about market moves and BTC‘s newest ATH. Dan Morehead, the CEO of Pantera Capital, said his firm had predicted these prices.
“It’s getting ridiculous. A year ago we predicted Bitcoin would hit $ 62,968 this week. It just worked out. This bitcoin rally is just like the previous halves. Expected to hit $ 115,000 by August,” tweeted Morehead The company also released the company April 2020 letter to investors that shows the company’s forecast.
What do you think of Bitcoin hitting a new all-time high ahead of Coinbase listing? Let us know what you think on this matter in the comments section below.
Photo credit: Shutterstock, Pixabay, Wiki Commons, Pantera Capital, Bitcoinwisdom.io,
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