Bitcoin exchange rate exceeded $ 18 thousand for the first time in three years

For the first time since 2017, the price of bitcoin has risen above the $ 18 thousand level, setting a new annual high.

Today there were several leaps in the MTC rate, during which cryptocurrency briefly reached $ 18,485. Subsequent strong pullback lowered the price to the previous level, but the bulls quickly regained control over the market, and an hour later the chart began to move up again. At the time of publication, bitcoin is trading at $ 18 200 with a daily gain of 8.85%.

Some analysts believe that the current growth is due to the overall positive dynamics of recent months, increased attention from large companies and problems in traditional markets. However, they also say that the bulls can deliberately stop the breakout and ease the onslaught slightly to lock in profits and strengthen their positions ahead of the storm of the all-time high $ 19. 675.

Bitcoin exchange rate exceeded $ 18 thousand for the first time in three years

The current growth is supported by institutional investors, as it is driven by objective market factors, and not by the rush like in 2017. Confirmation of their interest is the rapid increase in the stocks of cryptocurrency funds. For example, the largest bitcoin trust Grayscale Investments owns 500,000 BTC, the total value of which at the current exchange rate exceeds $ 9 billion..

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text: Ivan Malichenko, photo: Shutterstock

Bitcoin exchange rate exceeded $ 18 thousand for the first time in three years

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