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Bitcoin Hovers Around $57,000

bitcoin april05 lt

Bitcoin continues to hover around the $57,000 mark after improving its market value by $2,000 in the last week.

The most popular cryptocurrency is trading at $57,965 while writing this report. BTC's current market capitalization is $1.08 trillion and global trade volume is $44.64 billion.

The past 10 days have been generally a period of recovery for Bitcoin, which dropped to a recent low of $51,283 on March 25. From that point, the soft currency has strengthened by about 12 percent. Bitcoin touched its all-time record of $60,743 on March 14.

2021 proved to be the year in which Bitcoin displayed its strongest performance ever.

A major factor that boosted the popularity of Bitcoin was PayPal's announcement last month that it is allowing U.S. consumers to use their cryptocurrency holdings to pay at its online merchants globally.

Almost simultaneously U.S.-based digital payments major Visa said that it will allow the use of USD Coin to settle transactions on its payment network.

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