Bitcoin has soared to new all-time high against euro and several other fiat currencies
In fact, data from the cryptocurrency analysis platform RIVER shows that out of the top 20 fiat currencies, 14 of them have seen Bitcoin climb to unprecedented levels.
The United States Dollar, Swiss Franc, Hong Kong Dollar and Mexican Peso, among others, have not yet seen Bitcoin reach a new peak. The chart indicates that the U.S. Dollar is just 5% away from its ATH, while the Mexican Peso has the furthest to go, with a 27% increase needed to reach a new high.The cryptocurrency market may be on the cusp of a bullish rally, as indicated by a recent surge in new investors.
This level of market participation is reminiscent of the early stages of previous bull rallies, hinting at the possibility of considerable price movements in the near future.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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