Home Bitcoin News The bitcoin exchange rate has exceeded $60,000 and is testing a historical maximum

The bitcoin exchange rate has exceeded $60,000 and is testing a historical maximum

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Crypto News

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Bitcoin reached $61,731 and came close to the historical maximum of April this year, but could not stay at this level.

According to CoinMarketCap, as of the morning of October 16, the BTC exchange rate reached $61,731, and the market capitalization of the cryptocurrency exceeded $1.1 trillion. At the moment, the price of bitcoin was very close to the April maximum, but it could not stay at this level.

Since July 20, 2021, when a local drop in the price of BTC was recorded to $29,807, the value of the cryptocurrency has doubled and played back the previous drop. Experts did not come to a unanimous opinion about what serves as the main catalyst for the downward or upward rally of bitcoin.

In June 2021, against the background of the fall in the value of bitcoin, ADVFN head Clem Chambers predicted that “bitcoin winter has already come” and “those who bought BTC for $ 60,000 will have to wait a very long time, and the rate may fall to $ 7,000.” However, we observe the exact opposite result.

This is probably due to the decision of the Securities Commission (SEC) to launch an exchange-traded investment fund (ETF) for bitcoin futures. In addition, the announcement of the signing by the US president of the law on a temporary increase in the debt ceiling and the demand of institutional investors could indirectly affect.

Earlier, US Senator and cryptocurrency supporter Cynthia Lammis said that bitcoin will help save people from poverty if the state treasury turns out to be empty.

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