Bitcoin soared to a new all-time high above $61,800 after surpassing Won, altcoins like Decentraland rallied more than 90%.
On March 13, bulls took full control of the crypto market as Bitcoin (BTC) price surged to a new all-time high at $61,844
Analysts had spent the week foretelling for an eventual move above the $60,000 level. Even social metrics showed bullish sentiment for Bitcoin as a number of investors planned to make BTC purchases. However, the further price forecast stands at a halt due to limited data availability from a technical analysis point.
On the other hand, the mainstream adoption of the cryptocurrency sector can be observed as FTX is proceeding to sponsor the National Basketball Association’s Miami Heat. It will obtain the naming rights, where the teams’ arena is likely to be renamed as FTX arena. The deal will be the first major partnership with an American sports league for a cryptocurrency project.
Following the booming sale of nonfungible tokens including the record-breaking sale of Beeple‘s NFT at $69.3 million, NFTs has enamored artists to explore the collectibles’ space. Also, with Bitcoin’s price surge, altcoins like Decentraland (MANA), a virtual gaming world project built on Ethereum, witnessed an 89% gain to a price of $1.19 on March 13. The same day, many small-cap altcoins witnessed double-digit gains, where larger-cap coins like AAVE and Bitcoin Cash (BCH) got a hike of 10.84% and 14% respectively.