Sunday , November 24 2024
Home / Bitcoin (BTC) / Bitcoin Price Breaks All-Time High Surpassing April’s $64.8K Peak

Bitcoin Price Breaks All-Time High Surpassing April’s $64.8K Peak

Summary:
Bitcoin has broken its former all-time high and is now officially looking at price discovery. This comes on the back of serious developments in the industry – just today, the first-ever SEC-approved futures-backed Bitcoin ETF started trading. The previous all-time high of Bitcoin’s price was set on April 14th, 2021 and it was at ,895 trading on Bitstamp exchange – exactly 6 months and 6 days ago. As of writing these lines and shortly after breaking the ATH level, Bitcoin quickly reached a record high of ,415. BTC/USD, Bitstamp. Chart by TradingViewIt’s worth noting that Bitcoin is up over 100% in the past couple of months alone – since the drop in July that took the price below ,000 briefly, With this said, the current rally looks to be more sustained than the one

Topics:
George Georgiev considers the following as important: , , , , , ,

This could be interesting, too:

Mandy Williams writes Bitcoin Fear and Greed Index Hits 3.5-Year High: Does it Hurt BTC’s Chances for 0K?

Jordan Lyanchev writes BTC Crash Impending? Jim Cramer Calls Bitcoin a ‘Winner’

Jordan Lyanchev writes Double-Digit Price Surges From These Altcoins as BTC Was Stopped Before 0K (Weekend Watch)

Wayne Jones writes VanEck Analyst Predicts Successive All-Time Highs for Bitcoin in Coming Months

Bitcoin has broken its former all-time high and is now officially looking at price discovery. This comes on the back of serious developments in the industry – just today, the first-ever SEC-approved futures-backed Bitcoin ETF started trading.

  • The previous all-time high of Bitcoin’s price was set on April 14th, 2021 and it was at $64,895 trading on Bitstamp exchange – exactly 6 months and 6 days ago. As of writing these lines and shortly after breaking the ATH level, Bitcoin quickly reached a record high of $66,415.
btcusd-oct20
BTC/USD, Bitstamp. Chart by TradingView
  • It’s worth noting that Bitcoin is up over 100% in the past couple of months alone – since the drop in July that took the price below $30,000 briefly,
  • With this said, the current rally looks to be more sustained than the one that led up to the previous all-time high for a number of reasons.
  • Right off the bat, long-term holders, as well as miners have been in steady accumulation mode and have shown little to no serious intentions of selling, as per on-chain analysis.
  • Another very important consideration is the BITO ETF – the first-ever futures-backed Bitcoin ETF approved by the US Securities and Exchange Commission (SEC).
  • As CryptoPotato reported earlier, the ETF by ProShares opened particularly well and saw shares worth almost $1 billion traded in its first day on NYSE.

Leave a Reply

Your email address will not be published. Required fields are marked *