Over the past weekend, there has been another rewriting of history in cryptocurrency markets. The most widely used digital currency Bitcoin has reached the $60,000 mark for the first time. Bitcoin’s market capitalization exceeded $1.1 trillion.
The unexpected ride upwards began on Saturday morning Central European time. Bitcoin was trading at about $56,000 at the time. Shortly before noon, it reached over 59,000, which seemed to entice investors to test the 60,000-strong threshold. Bitcoin surpassed that less than two hours later and continued to climb to a new all-time high.
Bitcoin’s record price stalled at $61,519, which was reached in the late Saturday evening hours. There was a slight correction, but even before midnight on Sunday, Bitcoin was trading just below $61,000. The massive rise in bitcoin’s price has also created a new high in market capitalization that has exceeded $1.1 trillion.
In the coming hours or days, you can expect to collect profits and return the price of Bitcoin below $60,000. However, there are estimates that the price of the cryptocurrency could rise to $100,000 this year.