Thursday, December 9, 2021
HomeBitcoin News‌‌Bitcoin price has reached a new all-time high at $63,000

‌‌Bitcoin price has reached a new all-time high at $63,000

Today the price of Bitcoin surpassed the $63,000 mark for the first time in history recording its new ATH (All Time High).

According to CoinMarketCap‘s data, it went as high as $63,100, while according to CoinGecko’s data it even exceeded $63,200.

Yesterday, the price was hovering around the $60,000 mark, but it had already pushed above $61,000 overnight thanks to the Asian markets. But that was not a new high, as it had also broken through $61,500 in mid-March.

Today, however, it made a sudden leap to above $62,000 and then made a second leap to above $63,000.

Ethereum also set a new all-time high, surpassing $2,200 for the first time.

Furthermore, despite the growth in price and market capitalization, bitcoin’s dominance remains below 55% on CoinMarketCap due to strong performances in recent days by some altcoins. 

Bitcoin ATH, the trend continues

According to analyst Simon Peters of eToro, this trend may not stop here.

Peters said:

“The dynamics have changed quite dramatically this year. Demand is flooding the market from institutions just as large amounts of bitcoin and ethereum are increasingly being taken offline and holders are transferring them to their own wallets. There is only one outcome from that, and investors should expect higher highs and higher lows throughout the year.

In the short-term, we may soon see some profit-taking from some investors – a common theme that occurs when bitcoin or its peers hit record peaks – but the long-term trend remains solid, with demand for alternative investments continuing”.

In February, Peters predicted that bitcoin’s price could reach $70,000 over the course of months, and thanks to today’s growth, that milestone doesn’t seem that far off. 

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