The value of the first Krypto coin continues to grow after falling to a local low of $ 40.7 thousand on September 29th. Since then, assets have risen in price by 44%
On the night of October 14, the bitcoin rate on the Binance crypto exchange stood above $ 58.5 thousand. The first cryptocurrency renewed its price maximum, the previous record was on May 10th. From 9:40 Moscow time the assets trade at $ 57.7 thousand, in the past day it has risen in price by 4%. Bitcoin capitalization reached $ 1.09 trillion with a market share of 44%, according to CoinGecko.
The last wave of Bitcoin growth began on September 29, from a local price minimum of $ 40.7 thousand. In the past two weeks, the cryptocurrency has risen in price by 44%. The price approaches its total of $ 64.8 thousand, set mid-April.
Earlier, the analyst firm B2C2 reported that the rise in the value of bitcoin in early October was caused by the increased demand for cryptocurrency from institutional investors. Analysts say the market has been ‘actively biased towards buyers’ in recent weeks.
Also, Bloomberg Chief Commodities Strategist Mike McGlone suggested that a unique phase of Bitcoin growth could take place in the fourth quarter of 2021. According to McGlone, a significant increase in the price of the first crypto-currency will increase the national debt of elicit the US and fears of a possible default.
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