Bitcoin hits fresh all-time high of $73,000, Ether inches near record high; what fuelled rally in cryptos?
Bitcoin price touched a new high of $73,157.55 today, surging 46% in the last one month from $50,000 level.
Bitcoin price touched a new high of $73,157.55 today, surging 46% in the last one month from $50,000 level.
Investors are hopeful that Bitcoin will soon go past its previous all-time high of $68,990 recorded in November 2021
Bitcoin records biggest single-day gain since October 2023; Ether follows with 1.87% surge
The last time Bitcoin achieved this level was in December 2021, which was subsequently followed by a dramatic downturn that saw the crypto plummet to a low of $16000 by the end of 2022.
Founded by MIT graduates Sam Bankman-Fried and Gary Wang just three years back, the crypto derivatives firm saw its net income rising from $17 mn to $388 mn on a year-on-year basis
The idea is, says Rajagopal Menon of WazirX, that this asset class will be volatile because it is traded 365 days for 24 hours.
The crypto has tanked 64% after reaching an all-time high of around $69,000 in November 2021.
Bitcoin earlier tanked below $26,000 but later recovered a bit to $27,604.56. The digital currency is still down 11% in 24 hours.
The world's largest crypto has fallen 20.20% in the past seven days and 28.19% in the past one month. The fall seen in the context of larger sell-off in the global market amid weak sentiments.
The drop in crypto comes as global equity markets plunged following Russia's invasion of Ukraine.