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Bitcoin price surges above $40k in ages

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.

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