2024

Bitcoin

Rekt

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 <p class="paragraph">In a situation fairly uncommon for the crypto market, there has been little to no uncertainty as to the mid-term trajectory of Bitcoin (BTC).&nbsp;</p>
 <p class="paragraph">Generally, the prevailing sentiment has been that the world’s foremost cryptocurrency will be slowly rallying over the course of several months and that BTC will – at least one point – enter a parabolic rise before the spring is out.</p>
 <p class="paragraph">So far, these predictions, largely driven by the halving event&nbsp; – due in slightly less than two months – have proven correct, and Bitcoin has spent much of 2024 – and much of the final quarter of 2023 – rallying.</p>
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 <h2 class="wp-block-heading" id="h-bitcoin-price-chart">Bitcoin price chart</h2>
 <p class="paragraph">In the first three weeks following the new year, Bitcoin’s price has been shaky and the world’s foremost cryptocurrency even entered into a major decline shortly after the approval of the first nine spot BTC exchange-traded funds (ETFs) in the U.S..</p>
 <p class="paragraph">This uncertainty, for the most part, ended by January 25, and the coin has since been rallying. Year-to-date, Bitcoin is 27.74%, and its initial decline and subsequent recovery are well reflected in BTC’s 1-month price chart, which logs a surge of 33.94%.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/7pEmVOc_1_G6XeErpw90KppG2IxFDmF44R4Va9HWXoZrRzhc-jUH0CEkmszMeHz2ARoZatJTnULMbG-3CRiL9f2YJCeiMUHmaVb4uJqs7Sp5InRNE-4O9C76ZSxDV_J3q5DG39kEgW3xluHRv1w4mnc" alt>
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   BTC YTD price chart. Source: Finbold
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 <p class="paragraph">Additionally, after trading mostly sideways in the last 7 days, BTC suddenly surged on the evening of February 26 and is 9.95% in the green in the latest 24 hours with a press time price of $56,396.</p>
 <h2 class="wp-block-heading" id="h-how-much-would-a-january-1st-btc-investment-returned">How much would a January 1st BTC investment returned</h2>
 <p class="paragraph">Given that Bitcoin started 2024 at the tail end of its Q4 2023 rally at approximately $44,000, a $1,000 investment in the cryptocurrency on January 1 would have, by February 27, <a rel="noopener noreferrer nofollow" title="turned" href="https://thebittimes.com/tag/turned.html">turned</a> into $1,276.76 – a 27.67% rise for a <a rel="noopener noreferrer nofollow" title="return" href="https://thebittimes.com/tag/return.html">return</a> of $276.76.</p>
 <p class="paragraph">A similar investment timed to coincide with Bitcoin’s late January low near $39,500 would have, however, risen 42.70% to $1,426.97 for a difference of $426.97.</p>
 <h2 class="wp-block-heading" id="h-what-is-next-for-bitcoin">What is next for Bitcoin?</h2>
 <p class="paragraph">The general consensus for Bitcoin’s movements in the coming months is that it will, after climbing above its press time price, enter a significant retracing that is expected to persist until the eve of the halving, as pointed out by, for example, <em>Rekt Capital,</em> a prominent crypto analyst on X.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/cqxRDL_Z0GrRIbrSV0HkCwHhFmYWBIGfp54crbvYNXMXmpv5UXTRCxAthOfwqGWM2hwkQlA9RpgHskZV1UEQrzVWuQG_vlu-d-BG8KYxY9eqnjYt7RG1HKqLfbP6W0XV2CoY8S5iOdon5zjwdEFlQgA" alt>
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   BTC pre and post-halving behavior. Source: @rektcapital
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 <p class="paragraph">After the halving is complete, there is a broad expectation that BTC will rise at least to its old all-time highs above $65,000 but that it is also likely to surge significantly higher.</p>
 <p class="paragraph">The predictions are mostly based on Bitcoin’s performance before, during, and after the previous halving, which all led to significant bull runs that saw BTC surge tenfold – and sometimes even hundredfold – in the months after the supply reduction.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/1-000-invested-in-bitcoin-btc-at-start-of-2024-returned-tbt80897.html">https://thebittimes.com/1-000-invested-in-bitcoin-btc-at-start-of-2024-returned-tbt80897.html</a></p>

$1,000 invested in Bitcoin (BTC) at start of 2024 returned

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TheBitTimes

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