By
Godfrey Benjamin
April 17th, 2024
On Friday, the most discussed cryptocurrency started soaring again and set a new 2015 high for its value.Bitcoin price broke past the $320 level.
Bitcoin is becoming stronger making the community think back to early 2014 when Bitcoin price was as much as $1,150.
On Friday, Bitcoin started soaring again and set a new 2015 high for its value. Bitcoin price broke past the $320 level. Over the last month the most discussed cryptocurrency is up more than 37%.
It’s natural that lots of companies are interested to work with bitcoin. Some Wall Street firms are not an exception to this trend. Plus, many are eager to use the technology behind bitcoin – blockchain – into their businesses.
Moreover, banks and major investors want to use the cryptocurrency. So, not long ago, Barry Silbert’s Digital Currency Group, the company which builds and incubates Bitcoin and Blockchain technology-related firms, raised capital from MasterCard, Bain Capital Ventures, CME Ventures, Canadian Imperial Bank of Commerce, New York Life, and others.
DCG strives to be the most active seed investor in the Bitcoin and Blockchain industry. Currently, the company holds investments in about 50 startups covering 15 different countries.
Lots of bitcoin-related startups may make the market step into a period of self-correction. However, TechCrunch reads about a bitcoin payment solutions provider Bitpay which managed to raise more than $30 million cutting staff.
“The price of bitcoin is only one metric of many that can be employed to gauge the health of its larger ecosystem. Volume, difficulty and the aggregate hash rate are also useful barometers,” suggests TechCrunch.
Still, when bitcoin price is increasing, it’s obvious that public interest will increase as well. The cryptocurrency needs more attention, and Bitcoin gets it.
Nevertheless, there are always a few things to watch for. First of all, the length of Bitcoin rally. Will bitcoin keep up its current head of stream, or will short-term profit slow down its current increasing?
Plus, it’s necessary to mention the impact of Bitcoin price on users’ interest. Bitcoin ‘comeback’ may become more than just a trading opportunity, if the cryptocurrency manages to find new powerful supporters.