Bitcoin (BTC) recently reached a new all-time high against the euro (EUR) and the British pound (GBP) as it surged to the $65,000 price level. The leading digital asset is making history by nearing 61,000 EUR for the first time, showing a 7% increase in the past 24 hours. This achievement marks the first time Bitcoin has come close to its new ATH in EUR and GBP since the previous bull cycle in October 2021.
Bitcoin’s Global Dominance
Data from TradingView reveals that Bitcoin has been hitting new all-time highs against various fiat currencies throughout this year. The cryptocurrency has achieved record highs against currencies such as the Argentine peso (ARS), the Japanese yen (JPY), the Turkish lira (TRY), and the Nigerian naira (NGN). More recently, Bitcoin reached new peaks against the Chinese yuan (CNY) and the British pound (GBP), showcasing its dominance in the global market.
According to angel investor Balaji S. Srinivasan, Bitcoin has set ATHs in 30 countries, including major economies like India, Egypt, and Indonesia. These countries represent a significant portion of the world’s population and GDP, highlighting Bitcoin’s growing popularity on a global scale. The recent surge in Bitcoin’s price can be attributed to the increased capital inflow into the ecosystem, driven by the launch of spot Bitcoin exchange-traded funds (ETF). The soaring demand for the digital asset has put positive pressure on its price, with analysts predicting further growth in the near future.
As Bitcoin continues its upward trajectory, experts anticipate that it will soon surpass the $69,000 mark and potentially reach highs of $100,000 and $120,000 after the upcoming halving event. The cryptocurrency’s performance against various global currencies indicates a strong market presence and solidifies its position as a leading digital asset in the financial landscape. With new peaks being achieved against a majority of the top 20 currencies, Bitcoin’s influence and adoption are expected to grow further in the coming months.
Leave a Reply