Bitcoin Price Taps New All-Time High, Analyst Says ‘Fertile Grounds for BTC to Take a Fresh Leg Up’ – Markets and Prices Bitcoin News

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Bitcoin Price Taps New All-Time High, Analyst Says ‘Fertile Grounds for BTC to Take a Fresh Leg Up’ – Markets and Prices Bitcoin News

The price of bitcoin crossed a new all-time high (ATH) on Tuesday, with the leading crypto asset jumping to $63,275 per unit in morning trade (EST). At the time of publication, the total market economy of more than 9,203 cryptos was worth $2,153 billion and global trade was worth $164 billion.

Bitcoin price reaches new highs

Bitcoin (BTC) finally broke through the psychological resistance at $60,000 and even missed the last all-time price high. Around 5 a.m. (EST), the price of bitcoin rose to a new high, to $63,275 per BTC. At the time of writing, BTC is just under the $63,000 mark and has a market valuation of approximately $1.177 billion as of today. That represents about 54% of the $2.153 trillion crypto-currency market, while Ethereum (ETH) garnered 11.9% on Tuesday.

The top five crypto asset markets 13 April 2021.

Bitcoin Price Taps New All-Time High, Analyst Says ‘Fertile Grounds for BTC to Take a Fresh Leg Up’ – Markets and Prices Bitcoin News

Ethereum trades at $2,225 per ETH and has a market valuation of approximately $256 billion. At the top of the list today is XRP, which is up an impressive 23% in the past few days and 66% in the past seven days.

Bitstamp Markets BTC/USD April 13, 2021.

Bitcoin Price Taps New All-Time High, Analyst Says ‘Fertile Grounds for BTC to Take a Fresh Leg Up’ – Markets and Prices Bitcoin News

XRP trades at a price of $1.70 per coin, just below the funding coin market (NBB). BNB trades at $573 per unit and has a market valuation of approximately $85 billion. BNB represents more than 4% of the total market capitalization, while XRP represents about 2.98% today.

Deribit ETH/USD Markets April 13, 2021.

Bitcoin Price Taps New All-Time High, Analyst Says ‘Fertile Grounds for BTC to Take a Fresh Leg Up’ – Markets and Prices Bitcoin News

In sixth place is Cardano (ADA), trading at $1.37 per unit, and in seventh place is Polka Dot (DOT), trading at $41. Uniswap (UNI) is now in eighth place, trading at $34.79 each. Litecoin (LTC) and Bitcoin Cash (BCH) ranked ninth and tenth respectively. LTC is trading in ninth place at $268, while BCH is trading at $721 per unit.

Delta Exchange CEO: General feelings are still strong

Of course, many crypto-enthusiasts are very positive about the prices. Delta Exchange CEO Pankaj Balani is one such person. In a message to Bitcoin.com News, Balani said: Bitcoin has consolidated over the past month, while altcoins have hit new highs for the year. This is a healthy consolidation for bitcoin as we have already reached a near 100% YTD return for BTC and the market needed a break. However, the interest in alts suggests that the overall sentiment is still strong, the Delta Exchange CEO added.

Balani continued:

This is fertile ground for bitcoin to rebound. We have some resistance around the $60,000 level, but a successful breakout here could mean that bitcoin has reached the $65,000 level and is looking to challenge the $70-75,000 level. On the other hand, traders see the $50,000 level as a critical boundary, as it served as solid support during the March futures decline.

Bitfinex Technical Director: Momentum may continue

Bitfinex CTO Paolo Ardoino shares Balani’s optimism. He told Bitcoin.com News that although there has been some turbulence and delays, BTC has made progress. The digital token space continues to show significant growth and technological advancements amid increasing institutional and Wall Street adoption of blockchain-based companies. With the growing demand for [decentralized finance (defi)], tokens other than bitcoin are expanding their presence, with some tokens becoming leaders for their efficiency and usability, Ardoino said.

The Ardoino will be added next:

Bitcoin reached a new record high in a rally that was partly supported by institutional buyers of the new digital gold. This momentum could continue as more and more funds and companies add bitcoin to their investment portfolios. The continued pandemic could also help create a safe haven for bitcoin, especially in emerging markets where bitcoin is gaining momentum.

With BTC trading at new highs, many people are curious to see where the leading crypto asset is headed. Alex Kupcykiewicz, senior financial analyst at Fxpro, says the infrastructure was built during the last cryptowinter and it paid off.

Right now, we’re seeing major players in the traditional market taking an interest in traditional cryptocurrencies, Kuptsikiewicz told Bitcoin.com News. The result will be increasing integration of the plant into the mainstream market, but there is a very worrying question about the US regulator’s attitude to what is happening.

What do you think of the fact that bitcoin reached a new record on Tuesday? Let us know what you think in the comments below.

Tags in this story

63275 per BTC, Always High, ATH, BCH, Bitcoin, Bitcoin (BTC), bitcoin cash, BitFinex, BTC, Cardano (ADA), crypto markets, Delta Exchange, Ethereum, Ethereum (ETH), LTC, Markets and Prices, Pankaj Balani, Paolo Ardoino, polka dot (DOT), High Price

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Emilia James
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