- Bitcoin and Ethereum prices surged higher than ever in the third week of February
- Bitcoin price hits a new all-time high of $56,579 according to CEX.IO
- Ethereum price skyrocketed past $2,000 earlier before seeing a correction
The last week has been very kind to Bitcoin and Ethereum. The two leading cryptocurrencies once again saw strong price surges that allowed them to break new records, In fact, both coins hit new all-time highs barely hours ago.
Bitcoin price analysis: BTC goes beyond $56k
In the first half of February, Bitcoin price skyrocketed after the news of Elon Musk’s Tesla investing $1.5 billion into the coin. Despite the fact that the company has since faced scrutiny due to the move, and even the US SEC decided to start an investigation regarding the move — the coin’s price did not stop growing.
Originally, Bitcoin surged to $48,200, only to break that record and come very close to $50,000 per coin last week. However, resistance proved to be too strong for Bitcoin to breach it. The coin saw a minor correction, which was then nullified as the third week of February began. After that, Bitcoin simply kept climbing as the week went on.
After reaching $50K on 16th February, Bitcoin surged even higher, hitting $52,550 on 17th February, according to data from CEX.IO. For the next two days, price traded sideways around $52,000, only to see a sudden surge on the 19th February.
The rally took BTC to its new all-time high at $56,579.8. The coin has since seen a minor drop that took it down to $55,100, but at the time of writing, its price is growing again, currently sitting at
