Bitcoin Set a New Record-High Despite Plunge in Global Stocks

The world’s most capitalised cryptocurrency, Bitcoin, set a new record-high on Sunday after hitting $49,381.31 per coin.

Bitcoin rose from $46,333.57 per coin to $49.382.42 per coin in the last 24 hours, representing a net change of $2,259.50.

So far this year, Bitcoin has appreciated by 67.09 percent.

Accordingly, the value transacted in the last 24 hours rose to $6.35 billion with an average transaction fee of $20.02 and a total transaction count of 333,184.

The coin surged despite global stocks closing in the red on Friday. MSCI, which tracks World Index in 49 countries, dipped by 0.15 percent while Germany’s DAX sheds 0.5 percent.

The European shares, STOXX 600 index, rebounded from opening decline to close in the green.

Italy’s FTSEMIB index depreciated 0.2 percent despite the announcement of Mario Draghi, the former President of the European Central Bank as the Prime Minister of Italy.

Standard and Poor 500 declined by 0.2 percent while markets in China and most Southeast Asia were closed for the Lunar New Year.

Bitcoin gained after the news of Morgan Stanley’s $150 billion investment arm considering cryptocurrency investment became public.