With the current price of Bitcoin (BTC) above $60,000, the queen of cryptocurrencies continues to dominate the market with a total capitalization exceeding $1 trillion. But what are the latest updates on BTC’s trend?
#Bitcoin has closed above $55k for 16 days in a row! 🙌🚀
“Bitcoin has closed above $55k for 16 days in a row!”
Since then, the bullish trend has risen to the current $60k, sitting on a support that has not fallen below $55k.
Increased demand for bitcoin inevitably leads to price increases as well as a rise in the support price (currently still at $55k). This is why under the magnifying glass of all traders might be both its current price and its low.
For example, over the past week, bitcoin’s low price has been $55,700, compared to $55,000 over the past 16 days.
Lightning Network and the price of bitcoin
In this regard, a few hours ago, the CTO of Bitfinex and Tether (USDT), Paolo Ardoino, tweeted as follows:
— Paolo Ardoino (@paoloardoino) April 12, 2021
“Bitfinex earned ~120 USD (230k SATs) in the last 30 days via Lightning Network fees”.
Here specifically are his words:
“LN serves exactly its purpose: moving BTC fast and cheap. High fees = no good for masses”.