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An explosion in the cryptocurrency market... Bitcoin exceeds $71,000
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[rtl]Bitcoin, the largest currency in the crypto-asset market, broke its previous record level and recorded a new price above $71,000 for the first time since its launch in 2009.[/rtl]
[rtl]Despite crossing the psychological barrier above the record level of $69,000 that it recorded at the end of 2021, which again caused widespread sales, Bitcoin witnessed a purchasing fever and frenzy in the market that led to its rise in less than 10 minutes from the level of $69,000 to more than $71,110. .[/rtl]
[rtl]Julio Monero, a digital currency analyst at Crypty Quant, said on his account on the “X” platform that the large whales in the market refuse to sell despite possessing a large number of Bitcoins with huge profits, which confirms that they are betting on further rise.[/rtl]
[rtl]The "Coin Telegraph" website for cryptocurrency market news published data indicating the accumulation of Bitcoin addresses on the networks and the increase in the number of whales, a term given to buyers who accumulate huge amounts of a particular cryptocurrency.[/rtl]
[rtl]The number of unique addresses containing at least 1,000 Bitcoins rose to 2,104 as of March 7. However, this is still short of the record of 2,489 addresses reached in February 2021, when Bitcoin was trading above $46,000.[/rtl]
[rtl]By rising above $71,000, the market value of Bitcoin rose to a new historical level of nearly one trillion and 400 billion dollars, according to data at eight o’clock this morning, global time. Thus, this currency now constitutes more than 48% of the total market value of the cryptocurrency market, which is close to 2.8%. Trillion dollars.[/rtl]
[rtl]The purchasing fever extended to Ethereum, the second largest currency in terms of market value ($480 billion), as it jumped to $4,000, heading towards smashing its previous historical price of $4,891, amid news of the launch of instant trading funds for this currency on stock exchanges if the committee approves. American stock exchanges have received requests from giant companies, such as BlackRock, to launch these funds.[/rtl]
[rtl]Investors who missed the train of buying Bitcoin from lower levels are betting on riding the rise of Ethereum, which analysts expect will reach $10,000 if Bitcoin breaks the $100,000 level.[/rtl]
[rtl]The digital currency market is going through a state of frenzy, ending two years of collapse, after the US regulatory bodies approved 12 giant asset management companies in the United States to launch spot trading funds linked to Bitcoin.[/rtl]
[rtl]BlackRock, which manages assets of about ten trillion dollars, has become the largest company holding Bitcoin with about 200,000 Bitcoins, surpassing Michael Saylor's MicroStrategy, which disposed of a large portion of its Bitcoin holdings with the aim of launching a spot trading fund in this crypto-asset...[/rtl]
Views 48
Added 03/11/2024 - 12:25 PM
https://economy-news.net/content.php?id=41351
Market
[rtl]Bitcoin, the largest currency in the crypto-asset market, broke its previous record level and recorded a new price above $71,000 for the first time since its launch in 2009.[/rtl]
[rtl]Despite crossing the psychological barrier above the record level of $69,000 that it recorded at the end of 2021, which again caused widespread sales, Bitcoin witnessed a purchasing fever and frenzy in the market that led to its rise in less than 10 minutes from the level of $69,000 to more than $71,110. .[/rtl]
[rtl]Julio Monero, a digital currency analyst at Crypty Quant, said on his account on the “X” platform that the large whales in the market refuse to sell despite possessing a large number of Bitcoins with huge profits, which confirms that they are betting on further rise.[/rtl]
[rtl]The "Coin Telegraph" website for cryptocurrency market news published data indicating the accumulation of Bitcoin addresses on the networks and the increase in the number of whales, a term given to buyers who accumulate huge amounts of a particular cryptocurrency.[/rtl]
[rtl]The number of unique addresses containing at least 1,000 Bitcoins rose to 2,104 as of March 7. However, this is still short of the record of 2,489 addresses reached in February 2021, when Bitcoin was trading above $46,000.[/rtl]
[rtl]By rising above $71,000, the market value of Bitcoin rose to a new historical level of nearly one trillion and 400 billion dollars, according to data at eight o’clock this morning, global time. Thus, this currency now constitutes more than 48% of the total market value of the cryptocurrency market, which is close to 2.8%. Trillion dollars.[/rtl]
[rtl]The purchasing fever extended to Ethereum, the second largest currency in terms of market value ($480 billion), as it jumped to $4,000, heading towards smashing its previous historical price of $4,891, amid news of the launch of instant trading funds for this currency on stock exchanges if the committee approves. American stock exchanges have received requests from giant companies, such as BlackRock, to launch these funds.[/rtl]
[rtl]Investors who missed the train of buying Bitcoin from lower levels are betting on riding the rise of Ethereum, which analysts expect will reach $10,000 if Bitcoin breaks the $100,000 level.[/rtl]
[rtl]The digital currency market is going through a state of frenzy, ending two years of collapse, after the US regulatory bodies approved 12 giant asset management companies in the United States to launch spot trading funds linked to Bitcoin.[/rtl]
[rtl]BlackRock, which manages assets of about ten trillion dollars, has become the largest company holding Bitcoin with about 200,000 Bitcoins, surpassing Michael Saylor's MicroStrategy, which disposed of a large portion of its Bitcoin holdings with the aim of launching a spot trading fund in this crypto-asset...[/rtl]
Views 48
Added 03/11/2024 - 12:25 PM
https://economy-news.net/content.php?id=41351
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