There was a lot of speculation that a big price move was brewing for Bitcoin — and on Tuesday, those suspicions were confirmed.
BTC raced to $54,740.37 after struggling to break through the $52,000 zone for several days. It’s the highest price seen since a rather nasty correction took place two weeks ago.
The newfound momentum means that we could see Bitcoin break the record of $58,330.57 that was set on Feb. 21.
BTC’s surge also created a sea of green in the altcoin markets. Ether broke $1,800 after rising by 5.89%. The dramatic rise in trading volumes was also beneficial for Binance Coin — up 17.4% to $275.
It’s a much-needed boost for Bitcoin, which has been affected by the dramatic decline seen in tech stocks over recent days. This coincided with a rise in bond yields — something that sent jitters throughout Wall Street.
In other developments, it’s been announced that Swedish retailers are going to start offering Bitcoin gift cards — all with a goal of appealing to small investors who want to dip their toes into cryptocurrency. Cryptonow vouchers are going to be available at set prices of 100 Swiss francs ($107) or 500 Swiss francs ($537) — or for a specified amount in between. The funds are converted into BTC as soon as an access code is inputted online.
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