Bitcoin prices surged past the $11,000 level on Tuesday, marking a steep recovery from its recent lows of around $5,000 in March 2020.
“There is a huge positive sentiment around Bitcoin right now. With its prices going up, a lot of dormant holders are coming back and traders are trading more to book profits. Bitcoin’s price rally is also causing other altcoin prices to increase. As a result, we’re seeing a big jump in our trading volume. It will be exciting to see where Bitcoin price lands next,” said Nischal Shetty, founder and CEO, WazirX, a cryptocurrency exchange in India.
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