Bitcoin is Now Above $60,000 Per BTC Mark
This is for those who still consider Bitcoin (BTC) to be nothing more than a liability and an investment risk. As of March 14, 2021, Bitcoin (BTC) has reportedly cross the $60k per BTC mark and has set another all-time high record for itself.
Despite seeing a very hard time since its launch, Bitcoin (BTC) has managed to shock the entire world yet again. It has now become a trend for Bitcoin (BTC) that after gaining an all-time high, it ends up dropping in price before making a comeback.
Once Bitcoin (BTC) gains stability, it again hits an all-time high and has been continuing with this trend ever since. There are many cryptocurrency data analyzing firms that are sharing figures surrounding the all-time highs for Bitcoin (BTC).
As per one of the on-chain data analyzing firms known as Coingecko, on Sunday, March 14, 2021, at 07:17 UTC, Bitcoin (BTC) was reportedly trading at $60,935 per BTC.
However, the firm has claimed that towards the end of Saturday, March 13, 2021, Bitcoin (BTC) had hit an all-time high of $61,712 per BTC. However, the $60,935 per BTC price demonstrated by BTC is a 7% increase that it has experienced in 24 hours. As for the entire week, BTC has managed to gain an increase of 24% with respect to its price.
As for 30 days, Bitcoin (BTC) managed to gain an increase of 27% with respect to its price. Quite astonishingly, Bitcoin (BTC) managed to gain an increase of 998% in the last 12 months.
Coingecko has also shared the price details and growth of the other major cryptocurrency asset, Ethereum (ETH). According to the reporting firm, Ethereum (ETH) has also managed to gain an increase of 7% in the last 24 hours. At the time of publishing, Ethereum (ETH) is hovering at a price of $1,895.
The surge in the price of Bitcoin (BTC) is being attributed to the declining of the Bitcoin (BTC) inflows into the exchanges. The exchanges have reported that they are now receiving very less inflows of Bitcoin (BTC) than they used to have in the past.
The inflows into the exchanges suggest that the investors come in to sell their BTC and either cash them out or exchange them with altcoins. However, as the price of Bitcoin (BTC) continues to grow, the investors are becoming more bullish towards the prices of Bitcoin (BTC).
Therefore, the investors have started holding onto the Bitcoin (BTC) and are now waiting for the right time to sell them off to make huge profits. This is where the investors wanting to buy Bitcoin (BTC) are queued and have to wait until someone shows up and sells their Bitcoin (BTC).