In an inflationary environment, assets like Bitcoin appear more attractive to investors. The BTC price rallied to a new all-time high on Wednesday.
"Over the past week, Ethereum scored another all-time high and Binance Coin traded strongly in the greens," it added. "Solana surpassed Tether and Cardano to be the fourth largest crypto."
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There are several reasons why investors find this cryptocurrency appealing, and the chief of that is its affordable price. However, this coin has also shown that its value can rise well enough over the years, and it still has plenty of room for growth.
Such volatility in crypto markets is nothing new. With no formal structure and countless competing exchanges, trading in the digital currency is still akin to settling out in the old American West. Earlier this month, decentralized finance platform Synthetify was forced to halt all trading due to a bug in the platform that provides pricing data. The same software responsible for Synthetify’s troubles was also blamed for a September Bitcoin crash.
The hype surrounding popular memecoin Dogecoin had appeared to diminish recently as new altcoins took centre stage.
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Some are curious if this meme coin will ever truly see a full Shiba and Dogecoin-like impact, although it’s already off to an impressive start.
CryptoTV by CoinSwitch Kuber | Kavita Gupta, Founder - Delta Blockchain Fund, FINTECH.TV
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Shortly after achieving these astronomical new heights, Bitcoin’s price fell back toward $62,700 before recovering slightly to around $64,500, while most altcoins endured near double-digit losses.
Crypto exchange urges investors to take ‘long-term’ view while results suggest feverish dealings have cooled
Bitcoin’s price spiked above its previous record high of $67,700 seen in late October on Tuesday morning in a continued surge of support for the world’s most popular cryptocurrency.
Investors should continue to hold and not worry about the fluctuations, like Danial, who says she’s not “jumping on the hype.”
"Letting you all know that I have resigned as CEO of ??@BinanceUS," Brooks wrote on Twitter. "Despite differences over strategic direction, I wish my former colleagues much success. Exciting new things to come!"
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