Bitcoin Hits New Record Above $65,000 After World Street Invasion

Bitcoin hit a high record on Wednesday, just a day after its invasion onto Wall Street, as stocks widely maintained stability as investors tracked earnings and economic data.

The dollar was combined with its main rivals, while oil prices withdrew.

Bitcoin briefly increased to over $65,000, a day after a financial tool allocated to the unit made its debut on the New York Stock Exchange.

The Bitcoin Strategy ETF, a new exchange-traded fund attached to bitcoin futures rather than straight to the currency, increased nearly five percent in its first day of trading on Tuesday.

The fund will likely be a more accessible instrument for mainstream investors, and hence, could increase trading in the cryptocurrency.

According to analyst Fawad Razaqzada, “There is a possibility that the impact of the ETF’s launch might already be priced in, and we could see some ‘buy-the-rumour, sell-the-fact’ type of reaction in the days ahead”.

Bitcoin, which is known for not being constant, could also “easily break the record high, before potentially climbing towards $70,000… which is the next psychological hurdle”, he said.

Asian stock markets majorly ended higher on Wednesday.

Hong Kong led the gains, with more than one percent.

European stocks were close to the break even line in afternoon trading, with Paris up marginally, and London and Frankfurt dipping.

Wall Street’s main indices commenced with fair gains.

Another market analyst, JJ Kinahan said; “So far, a trend among consumer staple goods appears to be developing as a positive theme, which means these important goods are at least getting to market.”

Johnson & Johnson, United Airlines and Netflix were the most recent positives from the reporting period, adding to top Wall Street banks, including JPMorgan Chase, Bank of America and Morgan Stanley last week.