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Bitcoin rose 2.6% to $ 61,229 on Monday as the crypto world prepares for a week dominated by the direct listing of Coinbase on Wednesday. The boom reached the currency near its high of $ 61,742 on March 13.
The world’s largest cryptocurrency then slightly reduced its profit and traded at $ 59,909 in New York at 11:25 p.m.
“There is a lot of anticipation, some restlessness, maybe a little anxiety in the crypto markets today,” Justin d’Anethan, head of sales at the Nasdaq exchange Equos, told Insider.
“With BTC firmly in the top 50Ks, everyone is looking to see if we can reach or exceed the highest record … seen a few weeks back,” he said.
The biggest event of the week in the cryptocurrency world is the cryptocurrency exchange Coinbase’s direct listing on the Nasdaq on Wednesday.
This is the first listing of a large crypto company, with Coinbase having approximately $ 1.8 billion in revenue in the first quarter of 2021. The stock market said in March that private market transactions valued it at about $ 68 billion.
D’Anethan added: “Coinbase’s IPO is definitely a supportive move for the space, as it strengthens the legitimacy of the asset class and offers investors new ways to communicate with it.”
Edward Moya, a senior market analyst at currency firm Oanda, said in an email that a disappointing IPO or excessive concern about improved regulatory oversight could weigh bitcoin and the other altcoins. ‘
Bitcoin has more than doubled in 2021 thanks to a renewed interest in digital currencies backed by large amounts of stimulus from governments and central banks.
Now many important institutions are taking over the crypto-space, which adds legitimacy to bitcoin and other currencies.
But cryptocurrencies are still dividing the financial world. Many figures said they are too volatile to become serious investments for big players, while others claim they have little purpose other than speculation.
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