The first cryptocurrency renewed its all-time high above the $ 63,000 mark. The chart below shows the price exit from the flat against the backdrop of a surge in trading volumes.
The market capitalization of the cryptocurrency rose 4.8% to $ 1.176 trillion. Thus, cryptocurrency # 1 has overcome its all-time maximum reached on March 13 at $ 61,900.
Bitcoin’s skyrocketing growth has revitalized the rest of the market. The price of Ethereum also reached a new high. At the same time, the growth of BTC occurs against the background of a fall in dominance in terms of capitalization. Bitcoin’s dominance plummeted to a two-year low and coincided with the altcoin season.
Recall that for the first quarter of 2021, bitcoin and its forks showed the worst growth. For example, Bitcoin and its forks (BCH and BSV) have grown by almost 90%, 45% and 21% since the beginning of the year, respectively. At the same time, altcoins dogecoin (DOGE), binance coin (BNB) and cardano (ADA) increased by 863%, 610% and 577%, respectively.
Read about the prospects of the BNB token and the entire Binance ecosystem in our special material.
At the same time, the price of bitcoin on Korean exchanges has long approached the $ 70,000 mark in local currency. However, it was not easy for the fans of arbitration. Almost all Korean exchanges trade cryptocurrency in tandem with the Korean currency. At the same time, there is no opportunity to trade in a pair with a stablecoin or an altcoin.
However, Bitcoin still has time until the end of the year to surprise investors.
According to the S2F model, Bitcoin can be worth between $ 100,000 and $ 288,000 in 2021. The bullish sentiment was supported by the analysts of Ark Invest.