As repetitive as it sounds Billy called it again... it’s “another day, another ATH.” On the back of an over 5% hike over the last few hours, Bitcoin, the world’s largest cryptocurrency, breached the much-anticipated $60,000-mark, with the crypto building on 2021’s gains yet again.
BTC’s breach of $60k was welcomed and celebrated by many in the community, especially since just recently, Bitcoin’s market cap passed the value of $1 trillion once again. Understandably, the scale and pace of BTC’s price movement have taken many by surprise, especially since for long periods over the past 2-3 weeks, the cryptocurrency was rangebound, whether under $47,000 or under $54,000.
Curiously, Bitcoin’s latest ATH came just over a year after the infamous Black Thursday event, a day that saw the cryptocurrency fall to as low as $4,000 on the charts. Since then, BTC has hiked, with a spurt in DAA helping the cryptocurrency rise on the charts.
Here, it’s worth noting that Bitcoin’s breach of $50k and later, $55k, were precipitated by important developments, including MicroStrategy’s decision to purchase more Bitcoin by offering $600M worth of senior convertible notes.
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