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Bitcoin was trading more than 1.1% higher Tuesday morning.
The price was around $57,134 per coin, while rivals Ethereum and Dogecoin were trading around $3,475 (-3.39%) and 22.3 cents (-5.98%) per coin, respectively, according to Coindesk.
JPMorgan Chase CEO Jamie Dimon is no fan of Bitcoin, and he reiterated his feelings Monday by calling the cryptocurrency “worthless” while likening trading it to smoking cigarettes.
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“I personally think that Bitcoin is worthless,” Dimon said while speaking at a virtual event hosted by the Institute of International Finance. “But I don’t want to be a spokesman for that, I don’t care. It makes no difference to me.”
Bitcoin was trading more than 1.1% higher Tuesday morning. (istock / iStock)
Meanwhile, Coindesk reported Bullish sentiment continues to grow after bitcoin’s price broke above $57,000 Monday. BTC is up about 3% over the past 24 hours, extending its outperformance compared to alternative cryptocurrencies.
Analysts see a continued upside, with some projecting a return to the all-time high near $63,000 this quarter.
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“The crypto rally is impressive since it occurred in the face of a broader risk-off environment in both equities and bonds, with crypto markets seemingly decoupling from the equities markets,” Coinbase wrote in a newsletter last week to institutional clients. “We are seeing BTC clearly lead this market up as evidenced by bitcoin dominance (BTC market cap relative to the total crypto market cap) reaching multi-month highs.”