The rise of Bitcoin presents a great opportunity to invest.
The price of Bitcoin has steadily been rising for the past week until Sunday, when it was at $44,500. It spiked dramatically to $47k on Monday. With a 24 hour change of 1.2%, the coin is now trading at $46,600 with a 24-hour change of 1.2%.
A rise in the price of bitcoin did not leave the altcoin market inactive. Some altcoins gained as much as 32.7% (ADA). ETH, the second most popular cryptocurrency, has gained 18.4% in the past seven days.
ETH is getting closer to the merge the community has long awaited. Investors are rushing into Ethereum as the coin moves from Proof-of-Work to Proof-of-Stake as the transition date approaches.
Bitwise Asset Management Chief Investment Office Matt Hougan has described the merger as “a big deal.” It will take some time for the market to fully understand the impact of the merger. In the foreseeable future, ETH will be one of the most popular crypto assets for institutional investors if the merger is successful.