Key Takeaways
- Bitcoin crosses the $40K mark after 18 months.
- Altcoin and Bitcoin dependents are also seeing a bull run.
- Panic buying, low interest rates, and anticipation of approval from ETFs are seen as major factors in this.
- Crypto stocks like Coinbase and Microstrategy also saw a good rise.
The most prominent crypto, Bitcoin, has crossed $40k for the first time in over 18 months. In fact, at the time of writing this information, Bitcoin was around $41,700.
The $40,000 mark is a piece of very good news for crypto investors after a long time. From 2021–22, bitcoin prices saw some drastic fluctuations, reaching an all-time high of $68,000 and a lowest of $15,500 in those two years.
Furthermore, Bitcoin having four consecutive days of bull runs could be a sign of renewed interest and confidence from investors and might pave the way for further adoption.
Bitcoin’s dependents, like Bitcoin Cash, along with other altcoins, are also seeing a bullish run.
We have mentioned how Bitcoin, along with other cryptos like Ethereum, has seen signs of stability in 2023.
Similarly, gold also crossed the $2,000 mark, and many people see a correlation between the two by referring to Bitcoin as ‘Digital Gold’.
Note:
However, it’s important to note and learn from history that Bitcoin and other cryptocurrencies are still in a highly volatile category, so investments in them need to be done after properly assessing the risks and benefits.
The Future of Bitcoin
Stability itself is a good indicator of a promising future, but since we are talking about cryptocurrencies, take it with a pinch of salt.
Many reputable sources have predicted the potential valuation of Bitcoin in 2024:
- Standard Chartered: $100,000
- Bloomberg Intelligence: $100,000
- Arcane Research: $70,000
- GlobalData: $65,000
- Cryptocurrency Price Prediction: $60,000
How these numerical estimates come to life remains to be seen.
Greetings, I am Akriti Gupta, a dynamic content writer and skilled crypto & blockchain analyst, dedicated to staying ahead in the fast-evolving world of cryptocurrency. I have a passion for diving deep into over 1000+ crypto news updates daily, which helps me spot trends, uncover market insights, and deliver thorough analysis that empowers my audience to make informed decisions. My expertise lies in translating complex market movements into engaging, easy-to-understand content, making me a trusted voice for both novice and seasoned crypto enthusiasts. Through my unique blend of analytical skills and content creation, I strive to shape the future of digital finance, one article at a time.
