Bitcoin has briefly reclaimed the $60,000 level at 4:38 p.m. UTC on the Bitstamp exchange before dipping back below it. The cryptocurrency's market capitalization is sitting well above $1.1 trillion.
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As reported by U.Today, Bitcoin surpassed $60,000 for the first time on March 13 and then extended its gains to hit its current all-time high of $61,781. However, the flagship cryptocurrency took quite a beating at the beginning of the week, plunging to $53,185 on March 16.
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The Federal Reserve's reluctance to hike interest rates coupled with Morgan Stanley allowing its clients to own Bitcoin made sure that the bulls are back in the driver's seat.
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Vladislav Sopov
Dan Burgin