Bitcoin hit an average ATH $ 62,900 on various crypto exchanges on the morning of April 13. Exactly a month ago, the bitcoin price broke $ 60,000 for the first time and then set a new all-time high around $ 61,700.
Since then, however, the mother of all cryptocurrencies struggled to hold out above $ 60,000 and fell back below $ 51,000 on March 25. Subsequently, the price hit the USD 60,000 several times again, but the bulls were unable to actually break through this barrier.
Last week, Bitcoin corrected back down to $ 56,000, an increase of about 12% in a week. Bitcoin only broke $ 50,000 for the first time in February, and the old $ 19,700 ATH from late 2017 didn’t break until last December. Bitcoin is up by no less than 200% since this record was equaled on December 16, 2020.
The ether price also set a new all-time high of $ 2,228 at the same time today. The correlation between the two crypto rates has therefore been very high in recent months. The launch of the Ethereum 2.0 blockchain network was announced at the end of November 2020. The ETH rate has increased by no less than 350% since then.
This week’s gains may be due to the high expectations regarding Coinbase’s listing on the Nasdaq exchange. This will happen tomorrow on April 14, but could lead to a correction again due to the “buy the rumor, sell the news” effect.