Bitcoin continues to climb as Ethereum and Dogecoin lower
The price of bitcoin was up more than 1.1 percent on Tuesday morning.
According to Coindesk, the price was at $57,134 per coin, while competitors Ethereum and Dogecoin were trading around $3,475 (-3.39%) and 22.3 cents (-5.98%) per coin.
JPMorgan Chase CEO Jamie Dimon isn’t a fan of Bitcoin, and he expressed his displeasure with the cryptocurrency on Monday, calling it “worthless” and comparing trading it to smoking cigarettes.
Dimon remarked during a virtual session organised by the Institute of International Finance, “I personally believe that Bitcoin is worthless.” “But I’m not interested in being a spokesperson for that. To me, it makes no difference.”
Meanwhile, according to Coindesk, bullish enthusiasm has continued to increase since bitcoin’s price surpassed $57,000 on Monday. BTC has gained roughly 3% in the last 24 hours, continuing its outperformance against other cryptocurrencies.
Analysts expect the stock to rise further this quarter, with some predicting a comeback to the all-time high above $63,000.
“The crypto rise is noteworthy since it occurred in the face of a larger risk-off environment in both stocks and bonds, with crypto markets seemingly disconnecting from the equity markets,” Coinbase wrote to institutional customers in a newsletter last week. “Bitcoin dominance (BTC market cap relative to overall crypto market cap) has reached multi-month highs, indicating that BTC is definitely leading this market higher.”
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