Bitcoin (BTC) reached a new all-time high in the US Dollar as the long-awaited surge pushed BTC/USD towards the open.
1 hour candlestick chart BTC/USD (Coinbase). Source: TradingView
Bitcoin is back in price discovery
Data from Cointelegraph Markets Pro and TradingView showed that Bitcoin has crossed the $64,900 cap since April.
On the second trading day of the ProShares Bitcoin Strategy ETF, BTC/USD met again before the open in the US, a practice that has characterized the pair in recent days.
The most popular Bitcoin names are featured on social media.
Michael Sailor, CEO of MicroStrategy, summed up: “The halls of eternity reflect the cries of those who sold their bitcoins.”
Bitcoin has already hit a record this week against several major fiat currencies, including the euro.
Higher levels are expected in the coming weeks and months, punctuated by short corrections to identify new support levels, Cointelegraph reports.
The highest short-term estimate is currently around $300,000 per bitcoin.
Bitcoin season is in full swing
Various data supports the notion that Bitcoin’s time to shine will pass before all coins, which continued to suffer from BTC on the same day.
On the subject: Bitcoin’s price has gone up 50% since China “altruistically” banned Bitcoin mining.
With Bitcoin’s market cap climbing to its highest level since May – 47.4% as CoinMarketCap reports – already popular traders have warned that it is not yet time to focus on a portfolio of several cryptocurrencies.
According to current estimates, there should be an improvement in the health of altcoins in the first half of 2022.