today, March 13, bitcoin reached $ 60,000, its market cap reached $ 1.1 trillion.
Ethereum is worth $ 1,843, up 17% over the past week. BINANCE Coin, or BNB, has grown 21.8% in the past week. And Polkadot increased by 12%.
Why this increase?
Digital Artist Beeple made headlines when he sold a collection of NFT art for $ 69.5 million to a pseudonymous crypto collector called Metakovan. NFTs are cryptocurrencies that function as digital collectibles; each token is provably unique and serves as a kind of certificate of authenticity.
US President Joe Biden has signed a $ 1.9 trillion stimulus package that puts $ 1,400 in Americans' pockets to help them get through the pandemic.
Many Bitcoin advocates, including cryptocurrency VC Meltem Demirors, believe that printing US dollars to save the economy will devalue the currency and that Bitcoin is a safe bet against a collapse of the dollar.
Grayscale's parent company, Digital Currency Group, has announced plans to purchase up to $ 250 million in shares of the Grayscale Bitcoin Trust, a closed, publicly traded trust that invests in Bitcoin.
In Canada, a third Bitcoin ETF has received approval from Canadian securities regulators.
Bloomberg ETF reporter Mike Balchunas said the launch of Purpose, which traded $ 165 million in shares on the first day and $ 80 million in the first hour, was the most successful ETF launch in history.
However, the trend is still up, only the stochastic portends a possible retracement.
graphic source: tradingview.com
This article does not contain investment advice. Every investment and trading move carries a risk, readers should conduct their own research when making a decision.
THE OPINIONS EXPRESSED BY THE AUTHOR ARE FOR INFORMATION PURPOSES ONLY AND DO NOT CONSTITUTE FINANCIAL, INVESTMENT OR OTHER ADVICE.
