Bitcoin price hit an all-time record by hitting $ 48,300 in the afternoon on February 11. Before this movement was seen in the bitcoin price, there were several different developments that added strength to the bulls.
The BTC / USD pair has exceeded $ 43,300 on some global exchanges. Market value is 900 billion dollars; While the trade volume reached 66 billion dollars, the record was refreshed.
3 big news before the record
- Bitcoin move from the well-established American bank: BNY Mellon, the oldest bank in the USA and founded in 1784, announced that it will enter the bitcoin market at the end of the year. Bank customers will be able to store bitcoin in their accounts and transfer bitcoin again. The bank management announced that this decision was taken as a result of the request from customers. This service is expected not to be limited to bitcoin, but to include other cryptocurrencies.
- Mastercard enters the cryptocurrency market: The company, which plans to integrate cryptocurrencies into its system, will enable the use of cryptocurrencies in businesses where Mastercard is valid. Businesses using Mastercard’s infrastructure will be able to receive cryptocurrency payments directly from customers. While the company does not disclose which cryptocurrencies this service will cover, it was emphasized that stablecoins will not be included in this application. Bitcoin, which finds itself a place in PayPal and Visa networks, will be available to 1.2 billion people if integrated into Mastercard.
- Amazon steps for digital money project: E-commerce giant Amazon plans to develop a special digital currency project in the Mexico corridor. It is thought that the company, which has started team building efforts, may allow its customers to pay with digital money, Amazon has not yet made a statement on the issue. According to CoinDesk’s report, Amazon users will be able to convert cash into digital money and shop on Amazon in the future. This service can cover both the e-commerce platform and platforms such as Prime Video.
Bitcoin whales on the move
According to CryptoQuant data, the amount of stablecoins sent to exchanges continues to increase. The company’s CEO, Ki Young Ju, thinks that the money is from whales. Seeing the price climb to $ 48,300, Ju said, “The whales finally turned on the rocket. We can see $ 50,000 soon. ” made his comment.
Another factor affecting the market is thought to be the Chinese New Year. Binance CEO Changpeng Zhao said “2021 will be great,” referring to the Chinese New Year.