The price of Bitcoin (BTC) today reached the $9,700 per coin mark to hit its highest price since late September.
The last time Bitcoin was trading for this price, it was coming down from a high of $10,000 per coin—which is where some analysts believe its currently headed.
— Mati Greenspan [tweets are not trading advice] (@MatiGreenspan) February 5, 2020
The entire crypto market is today showing bullish signs of renewed enthusiasm. At the moment, the total market capitalization for all cryptocurrencies has risen by roughly $20 billion over the last 24 hours. Ethereum, for instance, is now trading solidly above $200 per coin—its highest price in several months.
While it’s difficult to pinpoint where, exactly, this enthusiasm is coming from, the day’s been filled with announcement after announcement of big-money investors making it rain over cryptoland.
Ripple, the crypto startup behind the XRP cryptocurrency, inked a deal with one of the biggest remittance companies that serves the US-Mexico market. Payments giant Square, led by Twitter CEO (and Bitcoin bull) Jack Dorsey, chipped in on a $14 million raise for a new crypto settlement play. And Lightning Labs, a Bitcoin startup building payment solutions on the Lightning Network, announced that it raked in $10 million in investor funding from Silicon Valley fat cats.
Coincidence? Maybe. But, either way: This is good for crypto.