3 Reasons Why Bitcoin Just Hit New All-Time High
Bitcoin, the number one cryptocurrency, hit another all-time high of $48,481 at 1:21 p.m. UTC on the Bitstamp exchange.
After dipping to the $43,700 level, the cryptocurrency continued its record-shattering rally that was turbocharged by the big Tesla news at the beginning of the week.
Coinbase premium
Coinbase Pro's Bitcoin premium went through the roof, reaching as high as $500 earlier today as noted by analyst Lex Moskovski. This is believed to be a bullish indicator since it shows buying pressure from whales on America's largest exchange.
Alex DovbnyaMasterCard's pivot to crypto
MasterCard, the second-largest payment network in the world, recently announced that it would start supporting cryptocurrencies:
We are preparing right now for the future of crypto and payments, announcing that this year Mastercard will start supporting select cryptocurrencies directly on our network. This is a big change that will require a lot of work.
BNY Melon unveils its Bitcoin plans
If this week were not big enough for Bitcoin, the Bank of New York Mellon, a major Wall Street player, has just made its Bitcoin plans public.
The shares of both BNY Mellon and Mastercard are now up more than two percent after adopting the cryptocurrency.
Arman Shirinyan
Vladislav Sopov
Dan Burgin