Bitcoin Jumps to a New Record, Breaks $62,000

Bitcoin-Jumps-to-a-New-Record,-Breaks-$62,000

Created by TradeOr

3rd Party Analysis 13 Apr 2021

Key Takeaways

  • Bitcoin sets a new record, reaches nearly $63,000
  • The largest crypto asset is up 7% so far in April and has doubled since January

 

A strong move to the upside in the early hours of Tuesday brought the world’s largest coin to a new all-time high. Bitcoin has shattered its previous record of $61,800 and is now racing towards the next milestone, $63,000.

Early on Tuesday, bitcoin set a new historical top, reaching as high as $62,700, prompted by a renewed buying momentum after a relatively long consolidation in the area around $54,000 to $58,000. Since the end of March, the crypto asset was pressured with a low of around $50,000 as crypto participants could not gather enough power to push the price above the consolidation level.

Today, however, marks a new high for Bitcoin as the asset sprinted through the $62,000 mark in a matter of minutes and the rally in the crypto asset seems to have gathered new strength.

Bitcoin is trading strongly to the upside for a sixth consecutive day on Tuesday, underpinned by increased investors’ appetite on the back of growing institutional support. The “digital gold”, as dubbed by some crypto enthusiasts, keeps shattering records at breakneck speed. For the month of April, given the time spent in a range, bitcoin has advanced nearly 7%.

 

Bitcoin-Jumps-to-a-New-Record,-Breaks-$62,000-2

 

On Tuesday, bitcoin is higher by almost 5%, or around $3,000, as crypto investors managed to exit the consolidation with a bang, resulting in a new all-time high for the oldest and most popular cryptocurrency.

Moreover, throughout the year, bitcoin is up the staggering 115%, reaching a market valuation of roughly $1.2tn. Along the way to new heights, bitcoin onboarded many mainstream institutions, professional investors, large corporations and payment processors.

The whole crypto market is now worth over $2.1tn, of which bitcoin currently holds less than 55%.

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