2024

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-soars-to-record-high-sparking-investor-interest" rel="noopener noreferrer nofollow">Bitcoin Soars to Record High, Sparking Investor Interest</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-breaks-through-43000-barrier-amidst-etf-anticipation" rel="noopener noreferrer nofollow">Bitcoin</a> has soared to a new pinnacle, recording its highest daily close ever on March 4th at $68,245, outstripping its previous high. The <a href="https://en.bitcoinhaber.net/south-korea-considers-abolishing-taxes-on-crypto-gains" rel="noopener noreferrer nofollow">cryptocurrency</a> displayed a remarkable growth spurt, seeing over an 18% rise on the weekly chart and a staggering 55% surge on the monthly chart. Analysts are split in their expectations, with some predicting even greater price levels, while others see the current peak as a possible short-term ceiling.</p>
<h2 id="analysts-offer-bullish-predictions">Analysts Offer Bullish Predictions</h2>
<p style="text-align: justify">According to a Bitfinex research report, demand stemming from US spot Bitcoin exchange-traded funds could propel the digital currency beyond previous highs. The report forecasts a potential spike to $100,000–$120,000 by late 2024 and suggests a market peak could occur in 2025. Bitcoin recently notched up a 2.85% gain within a day, trading close to $66,799. It nearly eclipsed the $69,000 mark, missing it by a mere $150, indicating a strong psychological resistance near the all-time high.</p>
<p style="text-align: justify">Senior Analyst Vetle Lunde from K33 Research points to a pattern where Bitcoin’s price typically consolidates post-halving events, which take place every four years, with significant rallies ensuing the year after. Lunde predicts a 130-150% rally post-halving, potentially driving Bitcoin’s price as high as $150,000 by 2025.</p>
<h2 id="strategic-corporate-investment-in-bitcoin">Strategic Corporate Investment in Bitcoin</h2>
<p style="text-align: justify">The surge in Bitcoin’s value coincided with the announcement from MicroStrategy, the leading corporate investor in Bitcoin, detailing their strategy to acquire more Bitcoin through a $600 million senior convertible notes offering. This plan was revealed by Michael Saylor, the company’s chairman, on March 4th.</p>
<p style="text-align: justify">There’s a wave of optimism among Bitcoin analysts regarding the near future. Quantitative analyst PlanB anticipates the onset of a bull market driven by FOMO, projecting it may last only 10 months. Meanwhile, Willy Woo, a respected Bitcoin analyst, believes the current rally is merely an overture to a more substantial, fundamental-driven bull market that has yet to commence.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-soars-to-record-high-sparking-investor-interest" rel="noopener noreferrer nofollow">Bitcoin Soars to Record High, Sparking Investor Interest</a></h5>

Bitcoin Soars to Record High, Sparking Investor Interest

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