Categories: World

For the first time Bitcoin crosses $60K mark

<p>
With a sign of acceptance among the mainstream investors, the world's largest cryptocurrency Bitcoin surpassed a record high of $60,000 on Sunday.</p>
<p>
The cryptocurrency hit $60,197 at 12:34 GMT and continued to hover around $60,000, according to the website CoinMarketCap.</p>
<p>
"After 20 years as a trader, I'm frankly not excited by this latest all-time high Bitcoin price, but I do enjoy the rocket-emoji messages in my inbox. My old veteran's advice is still: education first. Learn why rallies happen and why they always end. What goes up must come down, so don't get distracted by price guessing (I won't say predictions). Never blindly chase a rally in any market," says Vikram Rangala, Chief Marketing Officer at ZebPay.</p>
<p>
Bitcoin has tripled in value over the last three months — it was worth $20,000 in December — bolstered by increasing backing from corporate heavyweights.</p>
<p>
This year, Bitcoin rose around 72 per cent after tech billionaire Elon Musk's electric vehicle company Tesla invested $1.5 billion in it.</p>
<p>
Bitcoin, which was launched back in 2009, hit the headlines in 2017 after soaring from less than $1,000 in January to almost $20,000 in December of the same year.</p>
<p>
Buyers are aggressively accumulating more and more Bitcoin (BTC). This is the driving factor that has propelled the price growth of BTC towards this new all-time high value.</p>
<p>
After the unit crossed $1,000 for the first time in 2013, it has been increasingly attracting the attention of financial institutions.</p>
<p>
<em>(IANS)</em></p>
<p>
 </p>

IN Bureau

Recent Posts

“India has right to defend herself against terror,” says German Foreign Minister, endorses Op Sindoor

Germany has come out resolutely behind India and its fight against terrorism under Operation Sindoor.…

12 hours ago

“Balochistan is an open-air prison, and world looks away”: Baloch leader Mehran Marri

Baloch leader Mehran Marri has accused Pakistan of unlawfully occupying Balochistan since 1948, transforming the…

13 hours ago

Trump administration to tighten AI chip export curbs to China despite Nvidia CEO’s pushback

The Trump administration announced on Wednesday that it will continue its efforts to prevent advanced…

15 hours ago

Jaishankar meets German Chancellor Friedrich Merz, conveys best wishes of PM Modi

External Affairs Minister S Jaishankar met with German Chancellor Friedrich Merz in Berlin on Friday…

17 hours ago

CTA concludes month-long campaign demanding justice for Panchen Lama, 30 years after disappearance

The Central Tibetan Administration (CTA) launched a Month-long Panchen Lama Awareness Program aimed at educating…

17 hours ago

In Moscow, Indian envoy Vinay Kumar briefs all-party delegation on India-Russia ties

India's Ambassador to Russia, Vinay Kumar, on Friday, briefed the all-party parliamentary delegation, led by…

19 hours ago