Bitcoin at new all-time high above $3500

Eren Sengezer FXStreet

The BTC/USD pair continued to push higher on Friday, refreshing its record high at $3580 while gaining more than 4.5% on Friday. The pair was last seen trading at $3578. Moreover, the current market cap of bitcoin is now at $59.3 billion according to the latest available data on coinmarketcap.com.

Although no clear catalysts were seen behind today's price action, the digital currency bitcoin seems to be taking advantage of a low risk-appetite market environment. In a recent article, CNBC said that bitcoin appeared to exhibit gold-like properties.

Wall Street pares gains as geopolitical tension remains high

"The uptick coincides with a palpable improvement in public sentiment about the world's first cryptographic asset, with bitcoin recently receiving positive mentions from leading asset managers and gaining increasing exposure in western media," CoinDesk, an independent publication with an emphasis on digital currencies, explained on Friday.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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