13/03/2021 22:20 GMT + 7
Bitcoin’s record value of $ 60,000 has flooded the virtual money market, according to Coinmarketcap.
Investors’ buying momentum due to having to close a short position today pulled the value of Bitcoin to a record $ 60,000. Until the evening of the same day, Bitcoin was fluctuating around this price and could not break out any further.
Since the beginning of this year, the market has seen incredible increases in Bitcoin’s value, from $ 21,000 to $ 41,000, before going back and forth for the whole of January. By February, the scenario continued to repeat. This saw Bitcoin soar to $ 57,000 before falling back and falling.
|Bitcoin made a new high but has not yet broken out of this level|
Until March, Bitcoin made a slight recovery before making a new high of $ 60,000. Bitcoin’s rise in value back can be explained by many reasons such as the impact of large companies investing in Bitcoin as well as many financial institutions starting to offer financial services using the currency. this encoding.
However, Bitcoin’s rally could come from the $ 1,900 billion economic stimulus package that President Joe Biden just signed two days ago as Americans flock to the virtual currency.
|Green is covering the cryptocurrency market|
Bitcoin’s record also made the entire crypto market green with 24-hour trading volume reaching $ 147 billion, pushing the value of the entire crypto market to $ 1,808 billion, according to Coinmarketcap statistics. Bitcoin alone, 24-hour trading volume has reached 60 billion USD, bringing the capitalization of this coin to 1,119 billion USD.
Bitcoin is back to $ 55,000 with many risks
Many analysts believe that one of the key factors driving Bitcoin’s recovery is the pursuit of institutions, well-known investors, and large-scale companies.