Bitcoin price nears record high after sudden surge - follow live
The value of bitcoin increased by over two hundred percent from February 2023 to February 2024.
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Bitcoin is experiencing another surge, climbing over 20 percent in the past week and approaching its peak value.
On Thursday, the top cryptocurrency in the world surpassed the $63,000 mark. This means it's just $6,000 shy of its record price from November 2021.
In the last few days, several popular cryptocurrencies such as Ethereum (ETH), Cardano (ADA), Solana (SOL), and Dogecoin (DOGE) have seen considerable increases, resulting in the overall crypto market expanding beyond $2.3 trillion.
Several experts in the market anticipate a surge in the value of the top cryptocurrency globally very soon, but some caution that a notable downturn might follow the current price spike.
Stay up to date with the most recent information, evaluations, and proficient prognostications relating to cryptocurrency prices through our real-time coverage of the crypto market displayed below.
Live Bitcoin Price: Crypto Nearing Silver's Overtake
Bitcoin has experienced a significant surge in price recently, resulting in its market valuation surpassing $1.23 trillion. This puts it in the same league as Meta, the owner of Facebook. Additionally, it is almost on par with silver, and may soon overtake it.
Cryptocurrencies have a limited supply, which has frequently been compared to gold. Some people believe that it could be a substitute for a secure asset during periods of economic instability. This has led to predictions that its price could reach over $500,000, equivalent to the current market cap of gold, which is $13.7 trillion.
One major factor that sets the two assets apart is the volatility of bitcoin. Unless this aspect becomes less unpredictable, it's improbable that those who aren't in the crypto world will view bitcoin as a dependable way to store value.
"Positive Predictions For Bitcoin Price Live Ahead Of Halving"
One more factor contributing to the thriving current market is the upcoming reduction in rewards for mining bitcoin, known as the bitcoin halving. This will cut the cryptocurrency mining rewards in half.
Approximately every four years, an event called the bitcoin halving takes place. Crypto analysts have used this occurrence to interpret the price fluctuations of this digital currency during its 15-year lifespan. Dutch analyst PlanB is one of the most enthusiastic believers of this theory. He has attracted millions of supporters with his Stock-to-Flow (S2F) model.
Although his forecasts might be excessively hopeful, some individuals have highlighted the recent surge in bitcoin's price as proof that it is progressing on the anticipated path. It is crucial to acknowledge that PlanB cautions that unexpected incidents, such as a worldwide financial slump or a cryptocurrency exchange collapse, could hinder his projections.
If you're curious about the halving of bitcoin that's scheduled to happen on April 19, you can learn more by reading our explanatory article.
Anthony Cuthbertson wrote a blog post on February 29th 2024 at 11:41.
"Why Is Bitcoin Bouncing Back? Check Live Price."
This morning, Bitcoin's value has surpassed $62,000, which is the highest it has been since November 2021. It is currently hovering close to its all-time high of that month, which it attained before undergoing an abrupt correction. What circumstances led to Bitcoin's return to this level?
Bitcoin has been able to make a comeback for many reasons. One of the reasons is due to the overall state of the economy and the fact that more options for investing in the cryptocurrency are available. However, the primary reason for the recent surge in value is thanks to the approval of the first-ever spot exchange-traded fund (ETF) in the United States. This approval has led to billions of dollars in institutional investments entering the market.
Alex Adelman, the founder of the crypto app Lolli, has mentioned that the current bull market for Bitcoin is different from the ones in the past. The momentum in the market is being driven by a more informed and well-considered approach towards Bitcoin by large institutional investors instead of a speculative frenzy by individual investors. In the near future, if Bitcoin surpasses its previous high, we can expect more retail investors to rejoin the market and exhibit a renewed interest in Bitcoin.
You can find additional information on this matter by clicking the link provided.
Anthony Cuthbertson posted this blog on February 29, 2024, at 11:04.
Welcome to The Independent's real-time updates on the cryptocurrency market. In the past week, Bitcoin has experienced a significant surge of more than 20%, coming very close to reaching its historical maximum value.
Ethereum (ETH), Solana (SOL), Cardano (ADA), and some other leading cryptocurrencies have achieved noteworthy progress. However, the largest hike in price has been recorded in the meme-inspired digital currency called dogecoin, with an increase of over 50 percent within the past seven days.
We will provide you with all the latest updates, insights, and professional price forecasts throughout the day to clarify why it matters and project what may happen in the future.
Anthony Cuthbertson posted a blog on February 29, 2024 at 10:36.
