Bitcoin Hits $66k: Crypto Boom is in full Swing
Bitcoin has always been full of surprises. However, today it hit a different level by reaching an ultimate $66k.
The fall was quite fruitful for crypto coins as they recovered after several somewhat unstable months.
The cryptocurrency’s recent surge comes after an arduous summer where BTC had to endure a very nasty fall: where it landed below $30,000. In October, it has since rebounded more than 30% so far. Just a couple of days ago, the world-leading cryptocurrency was at $64,257.
Experts and crypto-maniacs were preaching about the ultimate dramatic Bitcoin comeback; however, even this skyrocket movement was entirely pleasantly unexpected. On Wednesday, the crypto pioneer coin climbed about 3% to $66,024.99 by 10:10 a.m. ET, topping a previous record of $64,888 set in mid-April.
BTC was finally able to blast its final resistance before April’s existing pick. The digital coin passed the milestone at 9:43 a.m. The sudden upward movement can be explained by the fact that federal regulators have finally allowed BTC to debut as Wall Street debuted the first exchange-traded fund tied to the cryptocurrency.
Bitcoin was not the only special currency that seized the lucky stare today. Ethereum also rose more than 4% to cross back over the $4,000 level. The world’s second-largest crypto traded at $4,005.91, approaching its all-time intraday high of 4,380 in May.
Bitcoin is increasing, becoming more standardized and integrated. Thus it is gaining more power in the existing market.
Some BTC fans and expert crypto-maniacs suggest that Bitcoin has all the chances to become a better inflation hedge than gold itself. However, these theories are still mere speculations based on historic crypto market behaviours. BTC has consistently shown that it has a mind of its own.
But there might be one thing that is pretty true to what the mysterious crypto pioneer. BTC has always been number one. In fact, as many users on Twitter stated, BTC is doing precisely what it was meant to do – reach the ultimate high.
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