After seeing a week of high quality altcoins like Binance BNB skyrocketing to ATHs, Bitcoin is now back in play. The bellwether cryptocurrency has breached the $61,000 level convincingly with strong volume support to reach an ATH of $62,700.
Ethereum also enjoyed a rally to breach the $2,200 level after largely range trading between the $2,100 to $2,150 range in the last week.
Just yesterday, Paolo Ardoino, CTO of Bitfinex commented
Bitcoin has surged to a new all-time high in a rally that continues to be partly fueled by institutional buyers of the new digital gold. This momentum may continue as increasing numbers of funds and corporations add bitcoin to their investment portfolios. An ongoing pandemic may also be furthering a safe haven narrative for bitcoin, particularly in emerging markets where bitcoin is gaining traction. While this particular all-time high will make headlines, daily price movements are of little consequence in comparison to the quiet revolution that is blockchain technology. More and more are seeing the benefits of being a bitcoin hodler.”
The cryptocurrency world is awaiting with great excitement on the impending Coinbase direct listing on NASDAQ. It will trade under the aptly named symbol COIN. As NewsFirstLine editorial team had previously opined, this event will be hugely positive for the entire crypto industry.
As Bitcoin and Ethereum continue their surge, the rest of the altcoins would have to take a breather for now.
Read more: Making Coin on Coinbase Listing
