• Thu. Oct 10th, 2024

Crypto Market Tops $2 Trillion once again due to Bitcoin’s Price Hinting at $60k

Christian Klausen

ByChristian Klausen

Apr 6, 2021

There has been a hide-and-seek game among the crypto market, and the price of Bitcoin is struggling to level up for the $60k margin. It did break this limit back in the day, but this triumph was short-lived, and soon enough, the bullish run also left Bitcoin for good, and it kept on stumbling around the low $53k to a higher $57k limit. But then again, Bitcoin has been trying to get its lost place back that lies above the $60k; this has not been achieved just yet, but soon it will be as the crypto market itself has reached an all-time high of $2 trillion. This increase is hinting at an increased overall price of Bitcoin, Ethereum, and various other cryptocurrencies, which can only mean that Bitcoin is soon to cross the $60k limit.  

The adoption of cryptocurrency in the mainstream media and financial institutions, along with various other places, is a joyous occasion without any doubt for the whole crypto community. One recent news that kind of breaks the ice on the theory that this increase in the crypto market cap can help increase the individualized price of Bitcoin was put to the test when MicroStrategy bought $15 million worth of Bitcoin. Despite reaching a new all-time high, a Bitcoin exchange-traded fund is still in the works, and if it ever gets approved, then it would provide the crypto industry with a more tempting boost not only in terms of the price but also the performance of various cryptocurrencies bustling out there. 

Positive Developments and Trends not only in the Crypto Market but also in the Legacy Markets

The positive development that happened for cryptocurrency also seems to be happening for the legacy markets as both the stocks and forex market did see a positive boost among the trading trends and prices of their dedicated assets, which are being traded. In the stock market, the NASDAQ surged approximately 1.36% while the S&P 500 surged almost 1.43%, which accounts for a positive boost not only for the crypto but also for the legacy markets as well. All of this hints at positive trends for a while and possibly the bullish trend sticking with Bitcoin once again.    

Christian Klausen

Christian Klausen

Christian Klausen is a talented news writer renowned for his compelling storytelling and comprehensive research. With a sharp eye for detail, his articles offer readers a thought-provoking and well-informed perspective on a wide range of current topics.

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