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Bitcoin hits record of $72,000
Bitcoin climbed to another record to start the week - further extending recent gains. Trading was subdued over the weekend, but on Monday and Tuesday, bitcoin has soared once again breaking $72,000 for the first time - an all-time high. The launch of US spot bitcoin ETFs is still fueling the momentum we are observing in the cryptocurrency sector - we are also seeing Bitcoin climbed to another record to start the week - further extending recent gains. Trading was subdued over the weekend, but on Monday and Tuesday, bitcoin has soared once again breaking $72,000 for the first time - an all-time high. The launch of US spot bitcoin ETFs is still fueling the momentum we are observing in the cryptocurrency sector - we are also seeing Ethereum break $4000 for the first time since December 2021, soaring 3% yesterday, also fueled by the network's next big tech upgrade, dubbed "Dencun".Companies whose performance is tied to the price of bitcoin was mixed on Monday. Crypto exchange Coinbase advanced gave back earlier gains, Bitcoin proxy Microstrategy rose 4% after the company purchased another 12,000 bitcoins or so, but miners like Marathon Digital fell, despite being some of the biggest stock market gainers in February.....they plummeted as investors digest the upcoming Bitcoin halving event, when mining companies' revenue will be slashed.
break $4000 for the first time since December 2021, soaring 3% yesterday, also fueled by the network's next big tech upgrade, dubbed "Dencun".Companies whose performance is tied to the price of bitcoin was mixed on Monday. Crypto exchange Coinbase advanced gave back earlier gains, Bitcoin proxy Microstrategy rose 4% after the company purchased another 12,000 bitcoins or so, but miners like Marathon Digital fell, despite being some of the biggest stock market gainers in February.....they plummeted as investors digest the upcoming Bitcoin halving event, when mining companies' revenue will be slashed.
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