Bitcoin and Ethereum Just Keep Going!
You know what they say – go big or go home!
Bitcoin
Well, apparently Bitcoin isn’t too keen on going home, as it has blown past the $20,000 mark on Saturday. Whoop whoop! Guess all those skeptics out there can just put their tin hats on; turns out The King of Cryptocurrency is here to stay.
It’s been quite the year for Bitcoin, seeing it continuously increasing its value. All that rolling into the weekend, we saw Bitcoin hit the all-time high.
Aside from the usual technical analysis of supply and demand, the reason for this surge is due to the fact that many are expecting some large-scale institutional investments into Bitcoin, thanks to PayPal’s recent implementation of cryptocurrency.
Ethereum
As for Ethereum, it appears that the second-largest cryptocurrency is also on a high as it crossed the $1,400 mark on Saturday. What’s interesting about this is that the cryptocurrency, which was hovering around the $600 mark for a while this year, seems to have doubled in the last month itself.
This can be largely attributed to the increase in demand for Ethereum-based dapps, and the influx of institutional investors who are looking to get some ETH exposure.
The Takeaway
To sum it up, things are looking pretty good in the cryptoverse! Trading at record highs and institutional investors finally joining the party; it looks like cryptocurrencies have solidified their place in mainstream economic circles.
Of course, it goes without saying that investing in anything, including crypto, is a risky game. Do your research and make sure you’re only investing what your willing to lose!
Happy Investing!
