Bitcoin’s Meteoric Rise… Again

Bitcoin reached its 45-month high on Monday climbing over a stunning $54,000. Analysts see this as a major bull run move that also brought the entire cryptocurrency market higher with Solana rising 5% and MATIC rising 8%. Equities such as Coinbase also had double-digit one-day gains across the board.

Bitcoin is on pace to return more than 25% just in the month of February.

Analysts cited advantageous trends in regulation and the opportunities for retail investors to participate in the market through new models such as ETF investing. Retail advisors also have an opportunity to build cryptocurrency as an asset class for their clients.

While banks were wise not to jump into major alliances with cryptocurrency-related companies that hold assets too early, the industry needs to continue to watch the trends as assets continue to rise for mainstream investors and could potentially affect assets in bank accounts.