Bitcoin reaches a new all-time high, surpassing $123,500
On the night of August 14, Bitcoin reached a new all-time high, climbing above $123,500. This surpassed the previous record set just one month earlier on July 14. Currently, Bitcoin's market capitalization is $2.5 trillion, while Ethereum's is $575 billion. Together, they account for roughly 70% of the entire cryptocurrency market.
According to experts, this growth is due to several key factors. Ben Kurland, CEO of the research platform DYOR, notes that the market's positive trend is driven by "mature demand" from asset managers rather than retail investor enthusiasm.
Chris Newhouse, Director of Research at Ergonia, adds that contributing factors include:
• Slowing inflation
• Expectations of interest rate cuts
• Unprecedented participation of major institutional investors through ETFs
Overall, experts believe the positive correlation between cryptocurrencies and stocks also plays a significant role in their growth.
ORIENT
