Monday, October 3, 2022

Bitcoin Breaks $19K, New All-Time High(ATH) Seems Inescapable

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Bitcoin (BTC) passed over $19,000 on Tuesday, after rallying $7,000 in one month. The leading cryptocurrency is now reaching its all-time high, which was $19,783 reached on Dec. 17, 2017. The price of bitcoin (BTC, +5.43%) was $19,001 at press time, representing a 2% gain in the past 24 hours, according to the CoinDesk 20 index. This took place after bitcoin’s price record the $17,000, and after that, $18,000 levels took place in the same week.

On Friday, Rick Rieder, the chief investment officer at BlackRock, the world’s biggest asset manager, stated on CNBC bitcoin may take the place of gold to an expansive degree since crypto is “so much more functional than passing a bar of gold around.”The market capitalization of bitcoin also hit its all-time high this week at approximately $329 billion, according to the information given by crypto analytic firm CryptoQuant. All but two of the other coins from the CoinDesk 20, counting ether and XRP (XRP, +28.18%), have also seemed to rise rapidly within the past 24 hours.

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