On Tuesday the price of Bitcoin once again surged to an all-time high with the price currently circulating around $63k. This very welcoming spike in price comes as investors were awaiting the stock market debut of cryptocurrency exchange Coinbase.
The price of Bitcoin has gone up around 5% in the last 24 hours while Ethereum has also seen marginal gains as the price now hovers around its all-time high of $2200. This all follows a week that has seen insane gains for Binance and XRP which have both seen gains of over 100%.
In fact, many altcoins have seen impressive gains these past two weeks, I recommend you head over to coinmarket.com if you desire to learn the true extent of the market. With this latest surge, the entire crypto market is now worth an astounding $2.1 trillion.
Coinbase Stock Set To Go Public On Wednesday
If all goes to plan Coinbase is set to go public on Wednesday with a direct listing. There is plenty of speculation that the company could be valued as high as $100 billion. This would represent a huge moment for the crypto industry after years of skepticism from wall street and regulators.
Marcus Swanepoel, CEO, and co-founder of London-based cryptocurrency platform Luno told CNBC this when asked about the potential impact of this listing.
“This is really good and really important for the industry, It’s going to increase the trust and transparency in our industry. There’s still a bit of distrust in the industry and I think having a company of that size be public is going to help a lot of people realize that this is not just an asset class to take seriously but also a business to take seriously.”
Bitcoin To Reach $70k In April?
With all this momentum building many believe we are on the brink of a historic period for Bitcoin and crypto in general. Such is the extent of this that many experts are recommending that you ditch Bitcoin for several altcoins as they are set to outperform Bitcoin in the coming months.
However, the price of Bitcoin, for now at least cannot be ignored as it still has an influence on the rest of the market and a big surge in price will ultimately lead to a healthy market for all. If we reach this next milestone of $70k the prices that once seemed so far away will start to emerge as a reality and predictions that once seemed like hopium are now looking like the inevitable.