- Bitcoin (BTC) set an all-time high at $73,750 on March 14, 2024.
- The surge in BTC price reflects the crypto market capitalization of $2.77 trillion.
- Analysts debate whether BTC will reach $1 Million by 2025.
The year 2024 begins with new highs for pioneer cryptocurrency Bitcoin (BTC). This caused massive excitement despite the recent Bitcoin correction phase. Now, as BTC heads into price discovery range again, analysts debate how far the price will surge during the upcoming golden bull run.
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After surpassing bearish phases around the $31,000 range, Bitcoin burst past the 40,000 and %50,000 range to hit $60,000 in a very short time. Following this, most expected a new ATH which Bitcoin delivered soon after thus marking the price discovery phase which it will continue exploring after this price correction.
BTC which is on the recuperation, has expanded by around 206.68% in one year. The asset is trading at its most noteworthy level, outperforming its all-time high in 2021 and setting its first new high at $70,083 on March 8, 2024.
Subsequently, on March 14, 2024, BTC once more outperformed its past crest, coming to $73,750. This surge pushed its showcase capitalization to $1.44 trillion, contributing to an overall crypto market capitalization of $2.77 trillion, reflecting a magnificent performance.
Now the biggest anticipated event, the Bitcoin Halving event approaches, and with the crypto community’s eager expectation for a massive price burst for Bitcoin and other altcoins as well. Specifically, the Bitcoin Halving event will occur in April 2024. Once complete Bitcoin miners will go from mining 6.25 bitcoins to 3.125.
According to a report, BTC is anticipated to hit a new record of $88,000 later this year and perhaps even $100,000 soon after the halving. According to some analysts BTC is expected to hit $125,000 in 2025 and $360,000 in 2030. Most importantly, investors and Bitcoin believers like Michael Saylor expect Bitcoin to go all the way to $1 million.
As always, the crypto community is encouraged to do their own research before meaning any crypto investments. This is a volatile sector and rapid price surges and price falls are not new to the space. However, Bitcoin (BTC) stands as the least risky asset amongst all cryptocurrencies.
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