Bitcoin Hits New All-Time High Of $63,000
Bitcoin (CRYPTO: BTC) has hit a new all-time high price earlier today, as the market builds enthusiasm over tomorrow's Coinbase (COIN) IPO.
What Happened: Bitcoin reached a new record high of over $63,000 after rising by 5.4% from its 24-hours low under $60,000.
As of press time, the coin is trading just over $100 under $63,000.
The news follows a particularly high level of outflow from crypto exchanges registered yesterday, which is typically a bullish sign.
Market observers largely attribute this sudden rise to the upcoming Coinbase shares offering that will take place on Nasdaq tomorrow.
While some investment experts called a $100 billion valuation for Coinbase — much higher than that of the valuation of the exchange that will host its offering — is straight-up ridiculous, many are quite enthusiastic about it.
ETF managers appear to be among the most excited about this offering, with some going as far as saying that their fund may buy into Coinbase as soon as it hits the market.
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