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December 8, 2022
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Bitcoin

To the Moon: Bitcoin reaches new record above $ 63,000

According to CoinMarketCap data, bitcoin reached the value of $ 63,100, while according to data from CoinGecko it still exceeded $ 63,200 and at Binance it reached the $ 63,313 mark.

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

Today, however, he made a sudden leap to over $ 62,000 and then took a second leap to over $ 63,000.

Ethereum also set a new historical record, surpassing $ 2,200 for the first time.

In addition, despite price growth and market capitalization, bitcoin’s dominance remains below 55% at CoinMarketCap due to the strong performance of some altcoins in the past few days.

Bitcoin ATH, the trend continues

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

Peters said:

The dynamics have changed a lot this year. Demand is flooding the institutional market, as large amounts of bitcoin and ethereum are increasingly being taken down and holders are transferring them to their own portfolios. There is only one result from that, and investors should expect higher highs and lows throughout the year.

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

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

Source: Cryptonomist

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