bitcoin

Bitcoin ( BTC ) reached its new historical high this Wednesday (20th) after surpassing the US$ 64,863 record, an old peak. Bitcoin is currently trading at around $66,944.27, which is higher than ever in its history.

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In the last 7 days, Bitcoin jumped about 20%, gaining US$ 10 thousand in value, and now it is operating with an appreciation of more than 4.5% in the accumulated 24 hours, quoted at US$66,944. With that, Bitcoin now accumulates 123% in 2021.

The movement is accompanied by other digital currencies, such as Ethereum  (ETH), which rises 4.6%, to US$4,000, also approaching its historical high, in addition to Cardano ( ADA ), with less intensity.

The increase is widespread and among the 20 largest cryptos in the world in market value, only two, Shiba Inu ( SHIB ) and Algorand (ALGO) do not register gains. As a result, the total capitalization of the cryptocurrency market rises to $2.56 trillion.

Indeed, the new fund, traded on the New York Stock Exchange under the ticker $BITO, garnered a first-day trading volume of more than $1 billion, ranking it among the most successful launches of all time.

In the coming weeks, several more bitcoin futures-based ETFs may debut in the U.S., opening up the potential for savvy U.S. crypto investors to partake in what is known as a “cash and carry” arbitrage strategy.

Zorain Zubair
Zorain is co-founder of TechLapse. Based in Pakistan, Zorain is currently studying Business Management and aims to achieve the title of Chartered Accountant. Zorain loves writing about various technology news. He can be reached at: [email protected]
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