Bitcoin gained $14,000 per unit in 14 days
Bitcoin price neared $60,000 a unit to its highest in six months and it is likely the largest cryptocurrency might surpass $64,895 in the near future.
Dealers are now expecting a correction in cryptocurrency prices.
Ethereum rose by 4.24% in value but Cardano diped by 4.88% while other cryptocurrencies, including Polkadot and Dogecoin, also declined in values.
The depression in smaller digital currencies is being taken as a sign that their holdings are being liquidated to increase investments in Bitcoin and Ethereum.
Bitcoin value started increasing in October last year when it was traded at $44,000 a unit.
On Thursday, Bitcoin had exceeded the $59,000 mark and touched $59,664 per unit on Friday which was its highest value since April this year.
Over the past 14 days, Bitcoin gained $14,000 in per unit value.
In April this year, Bitcoin had touched its highest-ever level at $59,
The cumulative investment in Bitcoin has now touched $1,119 billion.
Investors maintained that the current hike in Botcoin value was caused by an announcement by the US Securities and Exchange Commission to start futures trading in Bitcoin too. They believe that if this happened, this move would make trading in Bitcoin legal, protecting their investments.
According to some reports circulating in the cryptocurrency market, the value of Bitcoin is likely to surpass $100,000 mark, but other reports insist that this heralds an imminent correction because of which the value of all cryptocurrency may plunge.