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27 February 2021

Another Weekend, Another All-Time-High: Bitcoin Hits $57k - Decrypt

Another Weekend, Another All-Time-High: Bitcoin Hits $57k - Decrypt

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Last week, BNY Mellon announced that it will invest in crypto for its clients.

Industry leaders told Decrypt last week said that the move will change how asset managers view Bitcoin, pushing its price even higher in line with the long-term price predictions by JPMorgan, Guggenheim and others.

Guggenheim CIO Scott Minerd said that Bitcoin's long-term price could reach $600,000 and JPMorgan predicted that it could reach $146,000.

The continuous price surge of the last few months has now pushed Bitcoin’s market cap north of $1 trillion. In crypto, the market cap refers to the total number of coins in circulation multiplied by the current market price of each coin.

Polkadot, the fourth-largest cryptocurrency by market cap, increased 17.15% in the last 24 hours and 29% in the past week.

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