2024

Bitcoin

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Bitcoin (BTC) has been showing <a href="https://twitter.com/Jake__Wujastyk/status/1765811356723273795" rel="noopener noreferrer nofollow">strong signals</a> of reaching a new all-time high, according to seasoned trader and market analyst Jake Wujastyk.
With the current price hovering around $67,578, the leading cryptocurrency has experienced a modest 0.8% rise in the last 24 hours.&nbsp;
Over the past year, Bitcoin's value has surged by an impressive 204%, indicating a robust bullish trend.&nbsp;
<h2 id="bitcoin-s-v-shaped-recovery">Bitcoin's V-shaped recovery&nbsp;</h2>
Bitcoin recently underwent a V-shaped recovery, bouncing back swiftly from a sharp decline that accompanied a broader cryptocurrency market downturn.&nbsp;
This recovery led to a consolidation phase, where the price stabilized in a specific range before preparing for another potential upswing.&nbsp;
According to Yann Allemann, co-founder of analytics firm Glassnode, Bitcoin's price movement has formed an ABC pattern during this consolidation.&nbsp;
<blockquote>
 V-Recovery - and onwards towards new ATHs 🚀 Yesterday, <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> took a deep dive (with rest of Crypto). This happened after BTC hit ATH. In fact, it was a part of the ABC-CORRECTION, which retested the former CONSOLIDATION TRIANGLE. The level around 59-62K has now gotten new… <a href="https://t.co/uCWMTFcvyH" rel="noopener noreferrer nofollow">pic.twitter.com/uCWMTFcvyH</a> — 𝗡𝗲𝗴𝗲𝗻𝘁𝗿𝗼𝗽𝗶𝗰 (@Negentropic_) <a href="https://twitter.com/Negentropic_/status/1765332039761342890?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 6, 2024</a>
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This hints at a strong foundation for further upward momentum. Currently, Bitcoin is aiming for the $66,000 mark, with predictions of reaching up to $76,000 in the near future.
<h2 id="bitcoin-s-market-cap-hits-new-highs">Bitcoin's market cap hits new highs &nbsp;</h2>
Amidst these price fluctuations, Bitcoin's market capitalization has reached a new all-time high of $1.33 trillion.&nbsp;
This milestone shows growing investor confidence and the increasing adoption of Bitcoin as a viable asset class.
Over different timeframes, <a href="https://u.today/massive-bitcoin-btc-rally-on-horizon-predicts-top-analyst" rel="noopener noreferrer nofollow">Bitcoin</a> has showcased significant growth, adding an impressive 11.6% over the past week.&nbsp;
The fortnightly and monthly gains stand at 30.8% and 56.5%, respectively, underscoring the strong upward trend Bitcoin has maintained over these periods.&nbsp;

Bitcoin (BTC) Ready for New All-Time High: Top Trader

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