The bitcoin price punched through $6,600 on Monday, marking another important step in its latest attempt to break out of a bear market that has now endured for a full six months.
The flagship cryptocurrency had entered the day on a sideways trajectory, holding close to $6,350 for most of the morning. At approximately 13:25 UTC, however, the bitcoin price made a sudden leap from $6,400 to $6,600, ultimately climbing as high as $6,681 but failing — thus far, at least — to break through $6,700.
At present, bitcoin is priced at $6,619 on Bitfinex, representing a 24-hour increase of five percent. The rally extended a recovery that began last week, shortly after the bitcoin price fell to a year-to-date low of $5,780.
Notably, bitcoin’s performance has been mimicked by every other large-cap cryptocurrency, most of whom have actually seen greater leaps against the dollar. Top performers include EOS, NEO, and NEM, whose prices have increased by 12 percent, 18 percent, and 15 percent, respectively.
Now The Reason Behind This Rapid Growth is Coinbase Custody
Let's Begin!
Coinbase Custody’ Targeting Institutional Investors Now 'Officially Open for Business
Major U.S. crypto exchange and wallet provider Coinbase has announced that its digital assets custodian solution for institutional investors is now launched
Coinbase Custody, aimed at institutional hedge funds and other clients who can deposit a minimum of $10 million, accepted its first deposit last week, the company announced on Twitter. Now, the new service is live for all customers.
Coinbase Custody is a combination of Coinbase’s battle-tested cold storage for crypto assets, an institutional-grade broker-dealer and its reporting services, and a comprehensive client coverage program.
Coinbase Custody’s unique features include:
1- On-chain segregation of crypto assets
2- offline private keys that require a quorum of geographically distributed agents to use cryptographic hardware to sign transactions
Multiple layers of security
3- Robust cold storage auditing and reporting
4- A custody offering through a regulated, institutional broker-dealer
5- Coinbase Custody leverages the expertise and systems of Coinbase partner
6- Electronic Transaction Clearing (ETC). ETC is a SEC-registered broker-dealer and FINRA member subject to regulated financial reporting and independent audits.
Should the licenses be approved, Coinbase will be able to begin offering securities on top of its current products. Coinbase hope to bring this offering to Asia as well.
According to my Knowledge Bitcoin ETF is also Possible in Coming Months
Coins to Pickup after this Big Announcement
Retail investors may not allow to drop the market
Until see the profit
I think it’s the time to accumulate the top 5 coins
According to Coinbase ,BTC weightage is high,followed by ETH
That’s why BTC pumped
We need to accumulate the alt coins which grow with BTC
I bet ONT is one of the alt coins
Bitcoin:63.47%
Ethereum:26.68%
Bitcoin Cash:7.15%
Litecoin:2.7%
This is Coinbase index fund weightage
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