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Another weekend, another all-time high: Bitcoin hits $ 57K


The price of Bitcoin does not seem to tire of breaking new records, all week it has been reaching a new record price and this weekend was no exception.

Today, Bitcoin it peaked at $ 57,000, its highest price yet.

BTC / USD chart
BTC / USD chart by Tradingview

Why the climb? The reasons are likely to be multiple and varied; Bitcoin's bull run is now in full swing.

An obvious candidate is the American business intelligence firm MicroStrategy, which yesterday announced that will sell $ 1 billion of debt to buy more Bitcoin. MicroStrategy has done this before: sold $ 400 million in senior convertible notes In December, he added to a pool of money used to buy billions of the currency.

MicroStrategy is led by CEO Michael Saylor, the cryptocritical become an evangelist. Industry leaders who they spoke with Crypto report they attributed his influence on Tesla's purchase of $ 1.5 billion in Bitcoin, which has since contributed to the price increase.

The new all-time high comes as cryptocurrencies benefit from a recent wave of "integration."

Last week, BNY Mellon announced that it will invest in crypto for its clients. Industry leaders told decipher In the past week He said that the move will change the way asset managers view Bitcoin, pushing its price even higher in line with long-term price predictions by JP Morgan, Guggenheim and others.

Guggenheim CIO Scott Minerd said that the long-term price of Bitcoin could reach $ 600,000 and JPMorgan predicted that it could reach $ 146,000.

The continuous rise in prices of recent months has pushed Bitcoin's market capitalization north of $ 1 billion. In the cryptocurrency market, market capitalization refers to the total number of coins in circulation multiplied by the current market price of each coin. The total market capitalization of the entire cryptocurrency market first reached $ 1 trillion in early January, as reported Crypto report. Now, the total market capitalization of cryptocurrencies is $ 1.7 trillion.

Altcoin price rally continues

Altcoins, currencies that are alternatives to Bitcoin, have also performed like a charm this week.

The price of Ethereum, the biggest cryptocurrency An alternative to Bitcoin, it reached $ 2,010 today, an increase of 3.81% from yesterday's $ 1,933. The Ethereum's weekly price change is an increase of 9.03%.

Binance Coin , or BNB, jumped this week to become the third-largest coin by market capitalization. Its price increased 15.97% to $ 298.72 in the last 24 hours. Its weekly price increase is 124.58%, the highest among the major cryptocurrencies. Yesterday, BNB hit an all-time high of $ 399.

Polkadot, the fourth largest cryptocurrency by market capitalization, increased 17.15% in the last 24 hours and 29% last week. Its current price is $ 38.12. Y Cardano (ADA), the sixth largest, jumped 15.53% the day before and 14.70% last week to today's price of $ 21.07.

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