empty
 
 
07.10.2021 01:56 PM
Bitcoin soars to highest level since May

Bitcoin skyrocketed to its highest level since May after gaining more than 30% over the past seven days.

This image is no longer relevant

It rose 8% to $ 54,210, about $ 9,331 less than its all-time high in mid-April. Its market cap, meanwhile, exceeded $ 1 trillion.

The rally contrasts with the more mundane performance of traditional assets like stocks, bonds and gold, amid worries about high inflation and slowing economic growth.

This image is no longer relevant

Obviously, Bitcoin has already overcome the tribulation of China banning crypto transactions and the uproar surrounding El Salvador's adoption of the token as legal tender.

Optimists point out that it continues to gain traction in Wall Street as an independent asset class, and comments from US regulators allayed fears of tighter oversight.

Other digital coins, such as Ether, Binance Coin, Solana, and Dogecoin, also rose over the past seven days, but Bitcoin trading volumes remain two-thirds higher, said crypto exchange Kraken.

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback