Bitcoin Surges 113% to New All-Time High Above $113,700

NBA legend Scottie Pippen recently expressed his bullish sentiment on the cryptocurrency market, tweeting "SEND EVERYTHING HIGHER" as Bitcoin reached new all-time highs. This statement comes at a time when Bitcoin has been surging, with the price setting a new record above $113,700 on July 10. Pippen's endorsement of the cryptocurrency market adds to the growing list of high-profile individuals who have expressed optimism about the future of digital currencies.

Pippen's tweet is significant not only because of his status as a basketball legend but also because it reflects the broader sentiment in the market. The cryptocurrency market has been on a bull run, with many digital currencies reaching new highs. This trend has been driven by a variety of factors, including increased institutional investment, growing acceptance of cryptocurrencies as a legitimate asset class, and the perception of digital currencies as a hedge against inflation.

The new all-time high for Bitcoin is a testament to the resilience and potential of the cryptocurrency market. Despite facing numerous challenges and setbacks over the years, Bitcoin has continued to grow and evolve, attracting new investors and users from around the world. The recent surge in price is a clear indication that the market is bullish on the future of digital currencies.

Pippen's endorsement of the cryptocurrency market is likely to have a positive impact on investor sentiment. As a high-profile individual with a large following, his words carry weight and can influence the decisions of others. His tweet is a clear indication that he believes in the potential of digital currencies and is optimistic about their future.

Bitcoin’s breakout has reignited the crypto market, acting as a liquidity trigger and pushing capital into altcoins. Ethereum is nearing $3,000 with strong ETF inflows, Solana has reclaimed $160 and is eyeing $200, while tokens like SHIB, AVAX, and HYPE also posted impressive gains. Analysts see this as a broader market shift, with BTC leading the charge and altcoins following fast.

Investors further expect new all-time highs in the second half of the year, fueled by rising corporate Bitcoin buying and progress on U.S. crypto legislation. The broader market is also riding the wave with gains across the board. Traders are watching closely for a move above $120,000.

Former Binance CEO also shared a simple yet powerful message. He asked his followers not to panic if they missed buying Bitcoin when it was cheaper, as he notes that there will be more chances. While governments can keep printing money, Bitcoin has a fixed supply of 21 million coins, which will make it more valuable over time.

Cardano co-founder Charles Hoskinson says that the long-awaited “gigachad bull run” is near. He predicts Bitcoin will soar to $250,000, and trillions will flow into altcoins. He points to the upcoming Genius and Clarity Acts as the key catalysts that will unlock massive growth.

However, Peter Schiff, a well-known Bitcoin critic and gold supporter, says that this might be the perfect time to sell Bitcoin and buy silver. He believes that silver has more upside and less risk, claiming Bitcoin could crash while silver’s downside is limited.