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Bitcoin Touches 48K USD, the Highest Value Ever! How will this Influence Altcoins?

Topic: Business DevelopmentPublished February 11, 2021
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Many altcoins continue to hit new highs, while the bull flag of the crypto giant bitcoin suggests traders are preparing for a run at $50,000. The increasing institutional interest in Bitcoin has helped elevate the top cryptocurrency to a record high that led to a total market cap value higher than the market cap of the Russian ruble. Bitcoin has touched the value of 48K USD on earlier 9th Feb 2021 and has now pulled down to 46k USD. Also many Altcoins is now gathering momentum as multiple tokens see new high. As Bitcoin value passes towards $50K USD target, the altcoins are pushed higher. Following the launch of CME Ether futures contract, the price of ETH has surged to $1,825.Meanwhile the Litecoin futures has also seen a surge in the activity with a record of $584 million in open interest. This indicates that the altcoins are now attracting the institutional investors. Interoperability between the blockchains is mainly focused in the cryptocurrency sector that as boosted the price of Polkadot (DOT) to a new high of $24.04. The Elrond (EGLD) also has set a hew high price! The DOT breakout is followed by the announcement that curve Finance would be implementing on Equiliburiums Palkadot parachain. Also the BNB has hit a all time high as its growing DeFi infrastructure and expansion of token functionalities on Binance Smart chain further strengthen BNB fundamentals. BNB is up to 44.09% and trading for $106.66. The next notable performers in the past 24 hour include a 52.22% rally from Filecoin (FIL) and a 20.23% move from EOS. So do you think this is the right time to invest for a business startup in crypto ecosystem?

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