The price of bitcoin has crossed the $ 58,000 mark on Thursday.
Bitcoin Prices Today: The price of bitcoin has crossed the $ 58,000 mark on Thursday. Bitcoin, the world’s largest cryptocurrency by market capitalization, rose 3 percent to $58,418. Bitcoin can touch the record high of $ 65,000, which it achieved in April. So far this year it has seen a jump of 100 percent.
Ether reached $3,649
The coin Ether, related to the Ethereum blockchain, also rose by four percent to $3,649. Cardano has come up with a jump of two percent at $2.19. Whereas, dogecoin has increased to $ 0.22. On the other hand, other digital tokens like XRP, Uniswap, Stellar, Binance Coin were also trading with gains during the last 24 hours.
Meanwhile, cryptocurrency products and funds saw inflows for the eighth week in a row and collected $226 million in investments last month. This information has been found in a report by CoinShares. In eight weeks, total crypto product inflows reached $638 million, bringing a total of $6.3 billion in the year to date.
This rise in bitcoin comes at a time when the digital token is under pressure following restrictions imposed by China on cryptocurrency transactions. Along with this, the beginning of the digital coin of El Salvador as a legal tender has also been full of problems.
What do experts say?
According to experts, recovery has been seen in Binance Coin (BNB) since Wednesday. It has bounced back strongly, indicating a strong position. Based on the BNB model, it can easily touch the $550 level in this cycle. Altcoins’ total market cap is trading at $1.27 trillion.
Let us tell you that last month the Public Bank of China (PBoC-People’s Bank of China) took a big hit on cryptocurrencies, saying that all cryptocurrencies are illegal in China. All activities related to it are also illegal. The People’s Bank of China had said that cryptocurrency trading, order matching, token issuance and providing derivative services for crypto is illegal. The bank had said that no cryptocurrency related work can be done in China.
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Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.