Crypto Currency News

Bitcoin Price hit new all time high $64,899 Following Coinbase Go Public

The major crypto currency touched $64,899 and it is likely to hit $ 115,000 in August.

Bitcoin (BTC) hit a new all-time high on Wednesday: $64,899. The leading crypto currency is going through its best days and capitalizes on every good news from the ecosystem with a new price jump. As of press time, the price of BTC has slightly corrected to $ 63,171.

Without a doubt, the event of the day is the entry of Coinbase to the stock market. The largest exchange in the United States will go public on NASDAQ, representing a historic milestone in the industry and a huge step in crypto adoption. In principle, the firm will have a value of 100 billion dollars.

On the other hand, institutional investments in BTC do not cease and neither does its adoption as a means of payment. Eric Demuth, Co-CEO of Bitpanda, assured that the flagship crypto currency constantly expands its range of clients and its importance continues to grow in companies and investment funds.

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Its record rally seen in recent weeks was fueled in part by institutional money coming into the market.

In dialogue with Bitcoin.News, the businessman remarked that the present that BTC is going through has polarized public opinion: “There remain those who see this crypto currency as the holy grail and those who still refer to it as a purely speculative object and try to devalue it. With obsolete and false myths”.

On the other hand, another CEO who spoke about the present of the market was Dan Morehead, from Pantera Capital. “This is getting ridiculous. A year ago, we predicted that Bitcoin would hit $ 62,968 this week. It just did. This Bitcoin rally is EXACTLY like previous halvings.”

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As for the rest of the market, growth has been even more encouraging. BTC, which typically hovers in a market dominance of roughly 60%, saw the percentage drop to 53% in recent hours, suggesting that the other 9,125 existing cryptocurrencies have gained ground.

Ethereum (ETH), the benchmark altcoin, is the main exponent of that trend. The asset reached its historical maximum in the last hours above USD 2,380, and at the close of this publication it fell slightly to USD 2,354. ETH accumulates a weekly growth of 21% and dominates more than 12% of the market.

Binance Coin (BNB) and XRP, the third and fourth crypto currencies on the market, respectively, were down 4% and 0.5%. Binance’s token is trading at $ 542, while Ripple’s is trading at $ 1.71. Litecoin (LTC) followed the same fate with a decline of 0.6% and its price is $ 266.

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Lastly, Cardano (ADA) and Polkadot (DOT) grew more than 1% and are trading at USD 1.44 and USD 41.70, respectively.

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