The bitcoin price is again rising at the start of this week. This is due to the comments from Elon Musk regarding his crypto holdings.
The Tesla-CEO confirmed that he bought a huge amount of BTC, Ether, and of course, Dogecoin. Additionally, he denied owning Dogecoin-inspired altcoins like Floki Inu or Shiba Inu. Due to which these two cryptocurrencies plummeted but still remained up.
The boost in the Bitcoin price, or Ether and Dogecoin, pushed the overall crypto market above $2.6 trillion on October 25. Last week BTC was only a fraction away from hitting its ATH price. Since its rates are quite volatile, it dropped a little, but now it is again on the rise. Currently, BTC is $2000 away from hitting its ATH price.
Bitcoin price has been up 50% since the start of this month and 500% since last October. The analysts and investors have anticipated BTC hitting its ATH for quite a few weeks now. They are hopeful that it will soon happen. However, its volatility and past performance keep some experts in doubt, and they believe that it might significantly fall like it did in the mid of this year.
At the time of writing, Bitcoin is trading at $63,020, and it has increased over 4.6% over the past 24 hours. The current performance of BTC shows that it might finally hit its ATH price and create a new record for the year 2021.
