The first-ever decentralized digital currency, Bitcoin (BTC), which is holding the first rank on CoinMarketCap in terms of market capitalization, is rapidly going upward in terms of its price value, which is resulting in popularity of the leading cryptocurrency. After breaking above its previous all-time high value of $19,800, Bitcoin is continuously making new records with each passing day. It has now set another new all-time high.
Bitcoin Price Surges To $52,570
Later on Wednesday, the 17th of February, the flagship cryptocurrency Bitcoin made a new all-time high by surging above the mark of $52k. The price of BTC hit the level of $52,570 and made the new record at this mark. It is really a major achievement for Bitcoin as it has not been able to reach such a peak price level never ever in its complete history.
This breakout has come only one day after the primary cryptocurrency broke the crucial resistance level of $50,000 on the 16th of February. It still has a long way to go as the major cryptocurrency is poised to hit the significant milestone of $100,000. Many analysts have predicted that the price of BTC will sneak through this psychological level within the next few years. Lisa Edwards recently said that Bitcoin would touch $142k by the next year. JP Morgan’s strategists and analysts also believe in the same prediction.
Bitcoin’s price value, at the time of writing, is standing at around $52,154 and is rising high with a positive increase of around 7.06 percent in the last 24 hours.
BTC’s Market Cap Jumps Above $950 Billion
This price rally has also pumped the market capitalization of Bitcoin up to a new high. It has jumped above the $950 billion mark. According to the data present on CoinMarketCap, the current market value of BTC is $955 billion. This market cap has helped the coin to become the sixth-largest digital currency in the world after surpassing Tencent in market cap.
Bitcoin is now very close to claiming the mark of $1 trillion very soon. With the pace at which the coin is moving, there is likely a chance that the coin will achieve this figure in the next one or two weeks.