Bitcoin rises in value again - price exceeds $55,000 for the first time since May

By: Maksim Panasovskyi | 07.10.2021, 15:04
Bitcoin rises in value again - price exceeds $55,000 for the first time since May

The other day, Bank of America's announcement and Wall Street's interest in the cryptocurrency led to Bitcoin rising to $51,000 for the first time since early fall. But it didn't stop there.

The value of BTC rose from $51,337 to $55,569 in one day. Before that rate exceeded the mark of $55,000 back in May of this year during the fall to $35,000. At the time of writing, one Bitcoin coin is valued at $54,344. That's about $10,000 below the all-time high that was reached in mid-spring of this year.

According to rumors, the jump in rate to $55,000 was due to the fact that one of the "Whales" bought several thousand BTC worth $1.6 billion. But there's no evidence of that yet. Nevertheless, analysts believe that in the future the price of Bitcoin will exceed $60,000 and will take the mark of $70,000 by storm.

Source: CoinMarketCap