Bitcoin Prices Reach Fresh, All-Time High Ahead Of Coinbase Direct Listing

Bitcoin Prices Reach Fresh, All-Time High Ahead Of Coinbase Direct Listing

Bitcoin prices continued to climb into new territory this morning, surpassing $63, 000 the day before cryptocurrency exchange Coinbase was scheduled to go public. At this point, bitcoin was up 120% since the start of the year, when it was trading below $29, 000, additional CoinDesk figures reveal. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] "The biggest catalyst in months is happening tomorrow “” the listing of Coinbase shares (COIN)," said Jeff Dorman, chief investment officer of asset manager Arca. "While Coinbase needs Bitcoin a lot more than Bitcoin needs Coinbase, it's not surprising to see BTC run ahead of what will likely be the most talked about event on Wall Street tomorrow," he stated. "Both Ethereum and Bitcoin have reached all time highs, this is the Coinbase effect. The market as a whole seems to be running in anticipation of the Coinbase listing." Marc Bernegger, a board member of Crypto Finance Group, also commented on the offering, stressing how it is benefiting the entire crypto space. "The fact that a purely crypto related company is going public and showing