Bitcoin market price recently hit a new all-time high today July 11 about 7 hours ago which saw the coin at $118,856.47 according to CoinMarketCap for the very first time ever. According to my research, the price has been surging right from the just concluded “Liberation Day” on April 2, when President Donald Trump the President of the United States introduced a new variety of tariffs. The development led to a decrease in the price of stock markets and has since given rise to the high demand of the world’s number one cryptocurrency. Investors decided to embrace a new alternative digital asset to invest on. The president had also ordered that a Bitcoin reserve be introduced in the United States.
Current price of BTC on CMC
Due to the occurrence on the stock markets
The price of Bitcoin is likely to surge more in the nearest future as one of the factors that can cause this will be the fact that the coin has a circulating supply of 21million coins. Due to the up in the Bitcoin price, other potential Altcoins have followed suit and experienced an increase in their prices. Some of those coins are Solana , Ethereum and Dogecoin.
Bitcoin new All-time high
The development in the BTC market also pushed the coin’s market capitalization to over $2.3 trillion. Although, its market cap is still under that of Gold which is at 22 trillion, Bitcoin market cap has now surpassed that of Silver. The mother of crypto is now being ranked above tech firms like Meta and also Google and that is a huge milestone unlocked.
As at the time of writing this article, The price of Bitcoin is currently at $117,520.23 with a 24hr increase of 4.02%. Crypto analysts have come up with series of speculations of what the price is likely to be at the end of the year. So readers, do you think that the Bullrun has arrived already? Cos I am still skeptical about if the bullrun season has approached yet. Let me know what you think in comment section.
Thanks for stopping by!