By Admin 
Bitcoin reaches all time high: The world’s largest cryptocurrency bitcoin broke its previous high record of January and crossed the $ 1.11 million level for the first time on Thursday. According to the report of the Coinmarket Cap, it first touched a $ 109,481.83 level with 2 percent rally. Then later its price crossed $ 111,000. A day before this, it reached $ 1,09,721 on 21 May.
Why did Bitcoin record a boom?
However, there are many reasons for this record-breaking up in bitcoin- first the trade war between the US and China has declined and secondly, the decision of the US’s credit rating cuts was motivated to look for other alternative sources of investors in addition to the dollar and in the same order and in the same sequence attracted towards bitcoin. Along with this, JP Morgan’s CEO Jamie Diman, who has been doubting Crypto for a long time this week, says that his customers can buy bitcoins and the inclusion of Crypto Exchange Coinbase in S&P 500 this month is also the reasons for this boom.
Investors investing bumper money in bitcoin
Now that Bitcoin has crossed its high level of January and has gained 50 percent lead from its low level of April, investors hope that the prices of bitcoin will touch the heights due to regulatory support and shopping of companies.
By reaching the record high of bitcoin, it shows that investors are now investing capital in it. Its total value has exceeded $ 912.6 billion, which shows more than $ 27 billion capital inflow from early May. According to Sosovalue data, investors have invested over 8.01 billion in the US Spot Bitcoin ETF in the last five weeks. May 22, that is, today it is trading at 110,618 at 14:08 am today, which shows the lead of 0.84 percent over the previous day. Its market cap has reached 2.18 trillion dollars.
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