Bitcoin continues to witness a massive winning rally as the price of the leading cryptocurrency once again broke its all-time high. At the time of writing, BTC is changing hands at $61,184, breaking its previous all-time high. Bitcoin has gained over 1000% alone just this year. The leading cryptocurrency has attracted some major institutions this year that drove its price to new highs. Retail investors have shown an increased interest in bitcoin this year.
Bitcoin continues to enjoy massive gains.
Bitcoin is currently witnessing the highest price in its entire history as the price soared above $61,000 for the first time. The price of other cryptocurrencies has also witnessed a positive gain in the last two months. The entire crypto market cap hit $2 trillion earlier this week after Ethereum reached an all-time high. Ethereum is currently trading at $2,176. According to CoinGecko.com, Bitcoin is presently 5% up in the 24 hours with a trading volume of $55.2 billion. Bitcoin currently has a market capitalization of $1.13 trillion. The leading cryptocurrency’s previous all-time high was recorded on March 13 when BTC reached $60,400.
The crypto industry attracts major institutional investments.
Bitcoin has witnessed an unprecedented rally this year as it crossed its all-time highs several times and continues to do so. One of the major reasons for bitcoin’s current rally has been speculated to be growing institutional interest in cryptocurrency. It started with Tesla investing $1.5 billion in bitcoin in January this year, which caused a domino effect, and several other major companies also invested in the leading cryptocurrency. Many companies which had earlier denounced bitcoin also changed their tones and warmed up to the cryptocurrency. Financial firms like Visa and PayPal also announced their plans to get involved with the leading cryptocurrency.