According to analytics company CoinGecko, Bitcoin has reached a new all-time record of $62,685 and is being celebrated in the Cryptocurrency streets. The price of one BTC was safely sitting at $62,600 at the time of publication.
The flagship digital fiat has had an amazing run recently, with its price increasing by 6% in just one week. The latest All-Time High comes just one day after Coinbase, a crypto evangelist and investor, went public.
What can the blockchain do now that it has reached these new highs?
Several market watchers contributed to the discussion by providing strategic analysis on Cryptocurrency.
“This rally is likely to meet the next resistance level at $65,000,”
Jon Pearlstone, Publisher of Newsletter CryptoPatterns.
Bitcoin has been testing the resistance levels for some weeks now, each time bouncing off but immediately coming back undeterred. Today’s all All-Time High was therefore all but inevitable as sheer market momentum, investor sentiment, and accelerating rate of development act as primary drivers
Jason Deanen, crypto expert working at Quantum Economics.
Aside from the world-famous BTC, several of the digital currencies in the crypto top 20 saw similar increases. Uniswap is up 12.04 percent, Binance is up 43.65%, and Ethereum is up 4.91 percent.
Bitcoin, as has been the case for digital currencies in the past, has yet again ventured into uncharted territory, leading street traders to speculate on the BTC’s future. Experts and traders alike, however, expect the flagship digital fiat to rise even more, perhaps to $400,000, with existing dynamics remaining positive as ever.
