Bitcoin reached $ 61,731 and came close to the all-time high of April of this year, but could not stay at this level.
According to CoinMarketCap, as of the morning of October 16, the BTC rate reached $ 61,731, and the market capitalization of the cryptocurrency exceeded $ 1.1 trillion. At the moment, the price of bitcoin was very close to the April maximum, but could not stay at this level.
Since July 20, 2021, when a local drop in the price of BTC to $ 29,807 was recorded, the value of the cryptocurrency has doubled and won back the previous drop. Experts have not come to a unanimous opinion on what is the main catalyst for the downward or upward rally in Bitcoin.
In June 2021, against the backdrop of a fall in the value of bitcoin, the head of ADVFN Clem Chembers predicted that “bitcoin winter has already come” and “those who bought BTC at $ 60,000 will have to wait a very long time, and the rate may fall to $ 7,000. “. However, we are seeing exactly the opposite result.
This is likely due to the decision of the Securities Commission (SEC) to launch an exchange-traded fund (ETF) for bitcoin futures. In addition, the announcement of the signing by the US President of the law on a temporary increase in the government debt ceiling and the demand of institutional investors could indirectly influence.
Earlier, the US Senator and supporter of cryptocurrencies Cynthia Lammis said that bitcoin will help save people from poverty if the state coffers are empty.