Bitcoin Soars With Institutional Purchases!

The popular cryptocurrency, Bitcoin, rose with corporate purchases, reaching the $ 56,500.

Bitcoin soars with institutional purchases. Bitcoin, the most valuable currency in the crypto market, continues to be traded above $ 56,500 after experiencing an increase with institutional purchases and reaching over $ 58,000. In second place, Ethereum tested over $ 1,800. BTC hit $ 58,330.57 on February 21st. One of the factors that set the record for Bitcoin again was the decision of US investment bank Goldman Sachs to restart cryptocurrency trading services. Goldman Sachs COO John Waldron stated that they are looking for ways to meet the demand of people who want to invest in Bitcoin. Making a statement last week, Goldman Sachs Global Markets Unit Digital Asset Head Matt McDermott also stated that 40 percent of Goldman investors have some kind of relationship with cryptocurrency. Stating that the coronavirus epidemic has accelerated online shopping significantly, Waldron underlined that this will cause a large increase in cryptocurrency payments. Bitcoin, which has been mixed between $ 54,484.59 and $ 58,087.24 in the last 24 hours, gained 1.53 percent to $ 56,655.97, while the weekly gain of the unit was recorded as 20.42 percent. Bitcoin's total market volume also reached 1.0 trillion 57.5 billion dollars. Ethereum, the second largest unit of the cryptocurrency markets, also gained 0.91 percent in the last 24 hours to $ 1,805.79, while its weekly earnings were at the level of 21.91 percent; The market volume of the unit also reached 207.66 billion dollars. The total market volume in all markets increased to 1 trillion 724 billion dollars. With the rapid rise after the increase in corporate interest in cryptocurrency markets, the total market volume exceeded $ 1.0 trillion for the first time on January 7 and $ 1.5 trillion on February 15 for the first time. With the effect of the recovery movements recorded in the cryptocurrency markets, 50 of the 100 units with the highest volume lost value in the last 24 hours, while the 3 units that fell were among the top 10. BTC accounted for 61.3 percent of the total market volume in 36,208 markets where 8,792 cryptocurrencies were traded and Ethereum accounted for 12 percent. The 24-hour trading volume in all markets was at the level of $ 131 billion.