Bitcoin has set a new all-time high six months after the previous one. The new record is slightly above $ 66,200, but may be updated today.
The previous historical maximum of BTC was set on April 13, 2021, a little short of $ 65,000. Now the upward movement from $ 66,000 continues, although not very quickly. Usually, after the maximum is renewed, the growth “by inertia” continues by at least a few percent. After it, a more or less deep correction may follow.
A similar situation developed in 2013. Due to the financial crisis in Greece and Cyprus, in May 2013, bitcoin rose to an unprecedented price of $ 256, although it was traded around $ 30 in the winter. The jump was followed by a pullback below $ 50, but by the end of November, Bitcoin for the first time in history overcame $ 1000, surpassing the record six months ago by more than four times. This was due to the rapid rise in popularity of cryptocurrencies in China and news of the adoption of Bitcoin by several Chinese internet giants.
However, at that time, the Chinese government intervened, declaring payments in BTC illegal and forbidding companies to accept payments in them. Investor sentiment instantly changed and a collapse began, from which bitcoin recovered for three years. In the same year, China banned all operations with cryptocurrencies for business in advance, and the Chinese government can no longer influence the course.
In the fall of 2021, interest in bitcoin is fueled by expectations of large purchases from institutional investors after the successful start of trading in the first ETF on bitcoin futures in the United States. This is reflected, in particular, by a decrease in stored BTC deposits on centralized cryptocurrency exchanges. However, there are also negative forecasts based on the collapse of the cryptocurrency market in 2017 after the launch of cryptocurrency futures on the CME.
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