Cryptocurrency market by 2024 Bitcoin It managed to make a strong start thanks to the influence of its ETFs. The price also managed to break a new record by maximizing the accumulation phase towards March. The price corrected a while ago and started searching for a new price.
As we reported as Koinfinans.com, Bitcoin overcame its decline at $ 31,000 and jumped to the range of $ 40,000 and $ 50,000. The price reached $60,000 in a short time. After this, most people expected a new historical peak. BTC met these expectations and rose to $70,083 in March 2024, officially starting the price discovery phase.
BTC gained approximately 206.68% on an annual basis during the recovery process. The asset is currently trading at its highest level, surpassing its 2021 all-time high, reaching $70,083 on March 8, 2024.
Subsequently, on March 14, 2024, BTC once again surpassed its previous peak, reaching $73,750. This rise increased the market cap to $1.44 trillion, bringing the overall crypto market cap to $2.77 trillion, reflecting stellar performance.
Now, the biggest anticipated event, the Bitcoin Halving event, is approaching and the crypto community is expecting a massive price boom for Bitcoin and other altcoins. Notably, the halving event will occur in April 2024. Once completed, miners will earn 3,125 BTC instead of 6.25 BTC.
According to a media report, BTC is expected to set a new record of $88,000 later this year and may even reach $100,000 right after the halving. According to some analysts, BTC is expected to reach $125,000 in 2025 and $360,000 in 2030. Most importantly, investors and Bitcoin believers like Michael Saylor expect Bitcoin to one day go as high as $1 million.
As always, the crypto community should be encouraged to do their own research before making any crypto investments. This is a volatile industry and rapid price increases and decreases are no stranger to this area. However, Bitcoin (BTC) stands as the least risky asset among all cryptocurrencies.
