The Bitcoin price reaches the $60,000 mark again. Will the all-time high fall now? The cryptocurrency Bitcoin is quoted immediately before the weekend according to the indication at 59,452 dollars and thus just under half a percent in the plus. In the meantime, even the mental mark of 60,000 dollars could be conquered. Will the all-time high now fall?
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Bitcoin rises above $60,000 again – Ether above $2,000
The cryptocurrency Bitcoin has risen in the night from Thursday to Friday at over 60,100 dollars to the highest level in over two weeks. Currently, however, it is trading slightly below that again at 59,500 dollars. The second most important currency by market capitalization, ETH, is also reaching the psychological mark of 2,000 dollars.
On the one hand, it is the credit card provider Visa and the payment service provider PayPal, which have brought optimism back to the trading floor. Visa had announced at the beginning of the week that it would start using cryptocurrencies in general payments as part of a pilot project, relying on the Ethereum blockchain. PayPal, on the other hand, has officially put the option of paying with selected cryptocurrencies into practice for US customers now.
Fear of inflation has investors looking for investment alternatives
On the other hand, it is the fear of inflation that continues to make investors look for investment alternatives. The latest plans of U.S. President Joe Biden are likely to have played their part. Biden again wants to set up an economic stimulus program worth billions. Against this backdrop, U.S. government bonds with a maturity of ten years recently traded at a 14-month high of over 1.77 percent.
The record mood on the stock exchanges on both sides of the Atlantic is likely to have been one of the main factors behind the price rises. The record spark on the global stock markets could not least also jump over to Bitcoin and Co.
Bitcoin price: Will the record high now fall?
The record high in the range of around $62,000 could fall soon, should the mental 60,000 mark be overcome sustainably. Technically, the uptrend remains in tact. Investors are now on the lookout for trend confirmation. From a seasonal perspective, investors could also make commitments at the beginning of April. The month of April or the beginning of the month, respectively, stock exchange traders have increasingly considered as a buying opportunity in the past.
If the all-time high could be broken, the upward momentum should quickly accelerate, as private investors are likely to venture commitments. In my opinion, the $65,000 mark would be the next technical target. On the downside, the $60,000-$52,000 threshold remains highly significant.
How to trade cryptocurrencies yourself
Do you want to trade cryptocurrencies yourself? Open a live or demo account and buy (long) or sell (short) bitcoin using derivatives like CFDs in a few simple steps:
- create a trading account or log in to your existing account.
- type “bitcoin” in the search bar and select it.
- choose your position size.
- click buy or sell order ticket.
- confirm the order.