Bitcoin continues its meteoric rise, reaching all-time highs against many major currencies, including the euro, as demand for BTC continues to grow.
Bitcoin breaks all records and sparks!
According to data from Coinbase and CoinMarketCap, Bitcoin defied all predictions by reaching its famous ATH this Monday March 4, 2024. The main crypto has in fact crossed the symbolic bar of 60,000 euros, or around 65,000 US dollars.
A stratospheric level never equaled until now, which shatters the old record established in September 2021 around 53,000 euros, according to these same platforms.
Bitcoin is currently at $66,000, reaching the ATH (All-Time High) according to various observers. According to TradingView, Bitcoin’s previous high against the euro was around 53,000 euros at the end of September 2021.
THE data from Coinbase corroborate this trend: Bitcoin has already exceeded its highest level of 2021 against the US dollar by reaching $65,565.75 this Monday. The platform valued the old record at around $64,000.
Persistent price divergences
Looking at dollar quotes, there are significant variations across major exchanges. CoinMarketCap and CoinGecko are posting all-time highs above $68,000, while Coinbase is reporting a record high of $65,565.
These disparities are mainly explained by the unique characteristics of each exchange, such as trading volumes, fees and liquidity. In addition, some platforms like Coinbase include the spread in their quotes in order to “temporarily lock in a price during the transaction”.
This new historic feat of Bitcoin, achieved despite persistent volatility, once again demonstrates the robustness and disruptive potential of the queen of cryptos.
In short, Bitcoin not only shone against the euro; it also reached record levels against nearly thirty major currencies, including the Chinese yuan, the Norwegian krone and the Japanese yen. This remarkable performance highlights the solidity of Satoshi’s invention in the face of galloping inflation plaguing many countries.
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