This year is golden for Bitcoin. The Bullrun (Term for an upward trend in prices) of the cryptocurrency par excellence seems to have no end, and today it has managed to break the barrier of its previous all-time high of 60,600 USD, at which it has remained stable for weeks.
Bitcoin, the first cryptocurrency to be created and the most popular, hits its new high of more than $ 63,000 and doesn’t look like it will stay there
This is how Bitcoin hit its new all-time high, or ATH, today. Reached $ 63,229 per unit at the time of this writing. This makes Bitcoin (and by far) the most valuable currency, bringing its market cap to an impressive $ 1.2 trillion.
To put us in perspective The cryptocurrency has doubled compared to the beginning of the yearWhen it was around $ 34,000, that was also a high point for the price of the cryptocurrency. And apart from a 20% drop in late February (which eventually turned out to be a correction), the trend so far this year has always been a growth trend.
Does this mean we are facing an imminent correction that will push Bitcoin back by 20% or 30%? Like anything that has to do with crypto, you never know, but this new Bitcoin ATH didn’t happen spontaneously in a few days, instead it has been forming for weeks with the support of $ 60,000 A stability close to this new maximum was to be expected or even a steep climb.
The reasons that make the price of a cryptocurrency vary are very different. In the case of Bitcoin, the introduction of the cryptocurrency by business giants like Tesla or TIME magazine has had a major impact on its popularity, which has an impact on its price.
In this video we explain some reasons why the price of cryptocurrencies can vary: