After an accelerated rally at the end of last week, Bitcoin (BTC), the most popular digital currency, is starting to reconsider its all-time high.
According to Coingecko.com, Bitcoin was priced at $ 19,686 today, surpassing the previous high of $ 19,665, which was reached on December 16, 2017.
At the time of writing, Bitcoin is trading at $ 19,579 which is up 8% on the day and 6% on the week.
However, as previously mentioned by Cryptonews.com, the highest bitcoin value means different things to different people and companies, depending on who you ask.
On Coinpaprika, a digital market research platform, Bitcoin reached $ 20,089 on December 17, 2017. Meanwhile, on CoinGecko, Bitcoin's price peaked at $ 19,665 on December 16, 2017. It was accessed on December 17, 2017. Wikipedia says the price of Bitcoin It peaked on December 17 at $ 19,783.06.
Matte Greenspan, who heads Quantum Economics, pointed out in a recent news release that Bitcoin is not just a currency close to record highs, with a host of altcoins also trading near all-time highs not seen since 2018. Greenspan described a scenario wherein Some traders, including himself, are taking profits in bitcoin and redirecting that money to altcoins. One of the cryptocurrencies that has surged recently is Ripple, which has risen 118% in the past seven days.
Bitcoin price chart:
Bitcoin begins the chain reaching its highest levels ... 102
Source: coingecko.com
Paolo Arduino, Bitfinex's chief technology officer, said in an e-mail comment: “Bitcoin’s rise today to an all-new high of $ 19,844 will captivate them. However, the fundamental factors that provide the fuel for this rally, particularly the growing presence of investors Institutional Bitcoin is still emerging and even relatively small allocations in the asset class of investment funds can have a seismic effect. ”
"We continue to see increased interest from institutional investors," Henry Arslania, president of PwC global in Hong Kong, told Bloomberg, adding that institutional investors are now able to access digital assets via many regulated players.
Luis Curran of ST Capital told Bloomberg: “Bitcoin has the best chance of going higher in the current environment because the Chinese are not as afraid as they have been in the past. Now we are starting to see the yuan's strength on its own fundamentals, so there is less incentive to limit Bitcoin. "