On Wednesday, February 28, in the afternoon, the rate of the first cryptocurrency crossed the psychologically important mark of $60,000. And then it also quickly crossed $61,000. The growth in quotations is caused by high demand for shares of spot exchange-traded funds based on the crypto asset and the expectation of the April halving.
The historical maximum for the Bitcoin rate was reached more than three years ago, on November 10, 2021, at around $68,700.
Analyst Lark Davic reports that Bitcoin has already updated this all-time high on sites in Japan, Argentina, Laos, Congo, Turkey, Burundi, Pakistan, Sierra Leone. According to the expert, this is due to high inflation in these countries and political instability.
The capitalization of the cryptocurrency market exceeded $2.1 trillion and reached the levels of April 2021. Moreover, more than half of the total volume is made up of Bitcoin and Ethereum.