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3 Reasons Why Bitcoin Just Hit New All-Time High

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Thu, 02/11/2021 - 13:52
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Alex Dovbnya
Bitcoin continues to hit all-time highs as it gets closer and closer to mainstream acceptance
3 Reasons Why Bitcoin Just Hit New All-Time High
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Bitcoin, the number one cryptocurrency, hit another all-time high of $48,481 at 1:21 p.m. UTC on the Bitstamp exchange.

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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. 

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Bitcoin Embraced by America’s Oldest Bank BNY Mellon

MasterCard'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.

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Bitcoin Embraced by America’s Oldest Bank BNY Mellon

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.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.