The rise in bitcoin over the last one week and the increase in other cryptocurrencies led to a significant jump in (Cyptocurrency). Its market cap has reached beyond 2 trillion dollars.
Cryptocurrency
People have shown a lot of interest about Cryptocurrencies for some time now. Investors are fiercely investing in it. This is the reason why there was a strong surge in cryptocurrency on Monday. Its market cap has crossed 2 trillion dollars, which is its highest ever. With this, it has created a new record.
The world’s most popular cryptocurrency bitcoin (Bitcoin) has also played an important role in this increase in the market cap of cryptocurrency. Bitcoin was trading 1.4 per cent higher at $ 59,045. Its market cap has been above one trillion dollars for a week. Its price had crossed $ 61,000 in March.
Signs of increase in bitcoin
According to experts, the price of bitcoin may increase further. If its price remains above $ 53,000, then its market cap will remain above $ 1 trillion. This will be a big record in itself. Increasing interest of people towards bitcoin cryptocurrency indicates further increase in it.
The reason for the rise in cryptocurrency
Over the past several months, the inclination of Institutional & Retail Investors has increased towards cryptocurrencies. Also, Tesla Inc and BNY Mellon invested in cryptocurrencies and their demand has increased. In the future, more investors are expected to invest in it, so the field of cryptocurrency can see steady growth.
What is cryptocurrency
Cryptocurrency is a type of digital currency. It is used to buy things or any kind of service. This is a completely digital transaction. Peer to Peer Electronic System is used for this. Digital signatures are necessary in this.
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