On April 10, Bitcoin price approached an all-time high of $61,712 as the market experienced long-awaited volatility. The same day, Ethereum (ETH) hit a new all-time high of $2,197. The world’s largest cryptocurrency by market cap, Bitcoin (BTC) has reclaimed the $60,000 mark on April 10. The move comes amid periods of long-overdue volatility hit the market as anticipated by major analysts.
Bitcoin Back to Trading Above $60,000
The cryptocurrency traded above $60,000 for the first time in nearly a month after spending weeks oscillating between $50,000 and $56,000.
In late February, Bitcoin retreated to as low as $43,000 amid uncertainty in the traditional markets over stimulus expectations and its positive effects on U.S. bond yields.
The market cap of Bitcoin in circulation hit $1 trillion for the first time earlier this year. The cryptocurrency has grown over the last 12 months by acceptance from mainstream investors and companies such as Tesla and Mastercard.
Ethereum Hits New All-Time High
Ethereum (ETH), the second-largest cryptocurrency by market cap, came close to $2,200 just days after breaching its previous ATH record of $2,100 for the first time.
ETH has delivered returns of more than 150% this year, and increasing institutional interest in the cryptocurrency could further push its prices much higher if the trend continues.
In recent weeks, Billionaire investor and entrepreneur Mark Cuban had talked about Bitcoin and Ethereum during an episode of the “Delphi Podcast.” He revealed that his crypto portfolio consisted of 60% Bitcoin, 30% Ethereum, and 10% other crypto assets.
This was the first time Cuban had spoken so strongly in favor of Ethereum. Besides, the crypto community believes that his comments were partly responsible for Ethereum’s subsequent price surge, surpassing the $2,100 level for the first time to hit a new all-time high at $2,197.