Bitcoin’s journey towards $65,000
April 19, 2021 - Bitcoin, the world’s biggest cryptocurrency, soared to near $65,000, recording a gain of almost 900 per cent in the past year, as the Coinbase digital currency exchange went public on the Nasdaq.
Bitcoin’s price reached a record of $64,870 on Wednesday (April 14), up from $7,292 at the start of the year, reflecting San Francisco-based Coinbase Global Inc.’s direct listing.
The crypto exchange ended the week valued at $68 billion, more than the New York Stock Exchange owner.
However, a weekend bitcoin plunge rattled crypto markets, but the coin has since recovered losses and remains up 770 per cent over the past year.
Bitcoin climbed as much as 2.3 per cent on Monday and was trading at $56,940 as of 11:40GMT.
Coinbase was down 2.6 per cent Monday in U.S. pre-market trading after closing at $342 on Friday. Analysts continue to remain bullish, on average predicting a 52 per cent climb over the next year.
Regulators are poised to tighten oversight of digital tokens, and bitcoin’s boom could yet turn to bust -- meanwhile, the cryptocurrency craze continues.