The flagship cryptocurrency Bitcoin has noticeably been moving upwards and is way beyond the $60k price mark. The crypto king crossed $68,500 for the first time and reached an all-time high. It is currently trading at $68,131 (at the time of writing).
According to reports, Bitcoin has gained around 136% this year and is expected to surge even higher. Analysts anticipate the flagship cryptocurrency will reach the $70,000 price mark, however, that is yet to be seen in real life.
Here is a graph by CoinMarketCap that shows the price of BTC in the last 24 hours.
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Could the Price of BTC Surge Higher?
According to analysts, the flagship cryptocurrency is expected to reach the $70,000 mark, which is only a few percentages high. As compared to the massive price correction seen earlier this year, the price of Bitcoin has nearly doubled as it crossed the $68,000 price mark.
Bitcoin has also noticeably surpassed other store-of-value assets such as gold, which has reportedly lost around 3.7% since January.
The largest digital currency has also outperformed Tesla in terms of market capitalization. Bitcoin now has a market cap of $1.29 trillion, whereas Tesla has a market cap of $1.16 trillion.
Even though BTC has a market share of 41.8%, the altcoins have quite majorly outperformed Bitcoin this year.
According to Glassnode, the on-chain analytics provider, the exchange outflows are increasing even though the price of the digital asset has significantly surged.
People who are interested in stepping into the crypto space and buying BTC should look for the lowest fee Bitcoin exchange.
What Should Crypto Enthusiasts Know About BTC and Altcoins?
The price movement for Bitcoin has been explained above, according to which the crypto king is expected to reach the $70k price region soon.
The most prominent altcoin, however, has also seen a significant price surge. Ethereum touched the $4,857 price mark earlier today, claiming an all-time high. It is currently trading at $4,817 (at the time of writing), which is a 1.01% increase in the last 24 hours and an 11.25% increase over the past week.
Here is a graph by CoinMarketCap showing the price of ETH over the last week.
Ethereum is not the only altcoin that has seen a price surge. Other digital currencies that have seen a price increase include Cardano, Litecoin and Shiba Inu.
However, if you are interested in buying the flagship digital asset then make sure you choose a platform from the largest Bitcoin exchanges.
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