Close Menu
TechCentralTechCentral

    Subscribe to the newsletter

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Facebook X (Twitter) YouTube LinkedIn
    WhatsApp Facebook X (Twitter) LinkedIn YouTube
    TechCentralTechCentral
    • News

      Public money, private plans: MPs demand Post Office transparency

      13 June 2025

      Coal to cash: South Africa gets major boost for energy shift

      13 June 2025

      China is behind in AI chips – but for how much longer?

      13 June 2025

      Singapore soared – why can’t we? Lessons South Africa refuses to learn

      13 June 2025

      10 red flags for Apple investors

      13 June 2025
    • World

      Yahoo tries to make its mail service relevant again

      13 June 2025

      Qualcomm shows off new chip for AI smart glasses

      11 June 2025

      Trump tariffs to dim 2025 smartphone shipments

      4 June 2025

      Shrimp Jesus and the AI ad invasion

      4 June 2025

      Apple slams EU rules as ‘flawed and costly’ in major legal pushback

      2 June 2025
    • In-depth

      Grok promised bias-free chat. Then came the edits

      2 June 2025

      Digital fortress: We go inside JB5, Teraco’s giant new AI-ready data centre

      30 May 2025

      Sam Altman and Jony Ive’s big bet to out-Apple Apple

      22 May 2025

      South Africa unveils big state digital reform programme

      12 May 2025

      Is this the end of Google Search as we know it?

      12 May 2025
    • TCS

      TechCentral Nexus S0E1: Starlink, BEE and a new leader at Vodacom

      8 June 2025

      TCS+ | The future of mobile money, with MTN’s Kagiso Mothibi

      6 June 2025

      TCS+ | AI is more than hype: Workday execs unpack real human impact

      4 June 2025

      TCS | Sentiv, and the story behind the buyout of Altron Nexus

      3 June 2025

      TCS | Signal restored: Unpacking the Blue Label and Cell C turnaround

      28 May 2025
    • Opinion

      Beyond the box: why IT distribution depends on real partnerships

      2 June 2025

      South Africa’s next crisis? Being offline in an AI-driven world

      2 June 2025

      Digital giants boost South African news media – and get blamed for it

      29 May 2025

      Solar panic? The truth about SSEG, fines and municipal rules

      14 April 2025

      Data protection must be crypto industry’s top priority

      9 April 2025
    • Company Hubs
      • Africa Data Centres
      • AfriGIS
      • Altron Digital Business
      • Altron Document Solutions
      • Altron Group
      • Arctic Wolf
      • AvertITD
      • Braintree
      • CallMiner
      • CYBER1 Solutions
      • Digicloud Africa
      • Digimune
      • Domains.co.za
      • ESET
      • Euphoria Telecom
      • Incredible Business
      • iONLINE
      • Iris Network Systems
      • LSD Open
      • NEC XON
      • Network Platforms
      • Next DLP
      • Ovations
      • Paracon
      • Paratus
      • Q-KON
      • SkyWire
      • Solid8 Technologies
      • Telit Cinterion
      • Tenable
      • Vertiv
      • Videri Digital
      • Wipro
      • Workday
    • Sections
      • AI and machine learning
      • Banking
      • Broadcasting and Media
      • Cloud services
      • Contact centres and CX
      • Cryptocurrencies
      • Education and skills
      • Electronics and hardware
      • Energy and sustainability
      • Enterprise software
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Lifestyle
      • Motoring
      • Public sector
      • Retail and e-commerce
      • Science
      • SMEs and start-ups
      • Social media
      • Talent and leadership
      • Telecoms
    • Events
    • Advertise
    TechCentralTechCentral
    Home » Cryptocurrencies » Bitcoin surges to new record high above $63 000

    Bitcoin surges to new record high above $63 000

    By Agency Staff13 April 2021
    Twitter LinkedIn Facebook WhatsApp Email Telegram Copy Link
    News Alerts
    WhatsApp

    Bitcoin hit a record above US$63 000 on Tuesday, extending its 2021 rally to new heights a day before the listing of Coinbase shares in the US.

    The largest US cryptocurrency exchange’s listing on the Nasdaq on Wednesday is considered a landmark victory for cryptocurrency advocates.

    Bitcoin is the world’s biggest cryptocurrency, with growing mainstream acceptance as an investment and a means of payment. It rose as much as 5% on Tuesday. Smaller rival ether also reached a record high of $2 205.

    The overall cryptocurrency market capitalisation hit an all-time peak of $2-trillion earlier this month, according to data and market trackers CoinGecko and Blockfolio.

    Bitcoin topped $60 000 early last month, fuelled by Tesla’s move to buy $1.5-billion of the digital currency for its balance sheet

    Major firms including BNY Mellon, Mastercard and Tesla are among those to have embraced or invested in cryptocurrencies.

    Bitcoin topped $60 000 early last month, fuelled by Tesla’s move to buy $1.5-billion of the digital currency for its balance sheet. For the past two weeks, it had traded in a tight range.

    “When bitcoin markets create new highs, the price often range-trades and we witness a round of profit taking,” said James Butterfill of digital asset manager CoinShares.

    ‘Run its course’

    “During this most recent period, have witnessed a similar profit-taking round, which now looks to have run its course.”

    Simon Peters, analyst at multi-asset investment platform eToro said “demand is flooding the market from institutions just as large amounts of bitcoin and ethereum are increasingly being taken offline and holders are transferring them to their own wallets”.

    “There is only one outcome from that, and investors should expect higher highs and higher lows throughout the year,” he added.

    The multifold rise in cryptocurrencies is also driven by investors seeking high-yielding assets amid low interest rates. However, the meteoric rise of bitcoin, which traded at a few hundred dollars only five years earlier, has led major investment banks to warn of a speculative bubble.

    Several fund managers surveyed by BofA and Deutsche Bank have said bitcoin was in “bubble” territory and expect it to pull back sharply.  — Reported by Thyagaraju Adinarayan and Tom Wilson, (c) 2021 Reuters



    Bitcoin Coinbase top
    Subscribe to TechCentral Subscribe to TechCentral
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email Copy Link
    Previous ArticleNvidia to challenge Intel directly for the first time
    Next Article Hey Siri, when is Apple’s next event? 20 April

    Related Posts

    Bitcoin smashes R2-million mark in record-breaking rally

    22 May 2025

    Huge crypto exchange hit by cyberattack

    15 May 2025

    Trump tariffs are now slamming crypto

    7 April 2025
    Company News

    Huawei Watch Fit 4 Series: smarter sensors, sharper design, stronger performance

    13 June 2025

    Change Logic and BankservAfrica set new benchmark with PayShap roll-out

    13 June 2025

    SAPHILA 2025 – transcending with purpose, connection and AI-powered vision

    13 June 2025
    Opinion

    Beyond the box: why IT distribution depends on real partnerships

    2 June 2025

    South Africa’s next crisis? Being offline in an AI-driven world

    2 June 2025

    Digital giants boost South African news media – and get blamed for it

    29 May 2025

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2025 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.