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Bitcoin Surges Over $47K - Is BTC Back on Track to Hit $64,863 ATH?


coinquora.com 14 August 2021 09:27, UTC
Reading time: ~2 m

  • Bitcoin price has surged over $47,000.
  • BTC’s total daily volume stays flat compared with previous months.

The Bitcoin price has surged over $47,000, this makes crypto investors wonder whether BTC is back on its way to hit new ATH?

Over the last two weeks, the crypto market looks to make a fast recovery. After the dump a few months back, few cryptos remained stagnant or grew steadily. At present, it looks like the industry might finally be on up and up once again.

At the time of writing, the price of Bitcoin (BTC) trades at $47,659.62. Over the past 24 hours, the price of Bitcoin is up by 3.2% and up by 10% over the past week. At the moment, Bitcoin’s market cap is at $895,368,184,912.

BTC/USDT Price Chart (Source: TradingView)

CEO of cryptocurrency exchange CoinJar Asher Tan said,

“We were seeing many investors taking advantage of recent market movements by taking profits…There’s a trend of conservatism among users who jumped into crypto around similar price levels earlier in the year, with users slightly trimming their holdings.”

Moreover, bitcoin’s total daily volume over major digital asset exchanges, such as Bitstamp, stays flat compared with previous months, especially towards the end of May.  Even more, if Bitcoin continues to recover as it is, then it is more likely that we may possibly see BTC hit its $64,863.10 all-time high soon.

Furthermore, looking into other top 20 altcoins by market cap outperforms Bitcoin. Notably, most of the Blockchain gaming, Non-fungible token (NFT), and Decentralized Finance (DeFi) projects are trending in the crypto market.

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