Bitcoin was buying and selling greater than 1.1% larger Tuesday morning.
The worth was round $57,134 per coin, whereas rivals Ethereum and Dogecoin have been buying and selling round $3,475 (-3.39%) and 22.3 cents (-5.98%) per coin, respectively, in keeping with Coindesk.
JPMorgan Chase CEO Jamie Dimon is not any fan of Bitcoin, and he reiterated his feelings Monday by calling the cryptocurrency “nugatory” whereas likening buying and selling it to smoking cigarettes.
“I personally suppose that Bitcoin is nugatory,” Dimon mentioned whereas talking at a digital occasion hosted by the Institute of Worldwide Finance. “However I do not wish to be a spokesman for that, I do not care. It makes no distinction to me.”
In the meantime, Coindesk reported Bullish sentiment continues to develop after bitcoin’s value broke above $57,000 Monday. BTC is up about 3% over the previous 24 hours, extending its outperformance in comparison with different cryptocurrencies.
Analysts see a continued upside, with some projecting a return to the all-time excessive close to $63,000 this quarter.
“The crypto rally is spectacular because it occurred within the face of a broader risk-off atmosphere in each equities and bonds, with crypto markets seemingly decoupling from the equities markets,” Coinbase wrote in a e-newsletter final week to institutional shoppers. “We’re seeing BTC clearly lead this market up as evidenced by bitcoin dominance (BTC market cap relative to the full crypto market cap) reaching multi-month highs.”