Last week marked a historic milestone as the foremost cryptocurrency surged past $70,000 for the first time in its history. Today, Bitcoin (BTC) continued its ascent, breaking through the $71,000 barrier during Asian trading hours on Monday.
This surge comes on the heels of the recent approval of spot Bitcoin exchange-traded funds (ETFs) in the United States, which has contributed to the steady upward trajectory of the cryptocurrency.
What's Next for Bitcoin price?
-- The primary cryptocurrency, Bitcoin (BTC), experienced significant volatility over the past week.
-- BTC reached an all-time high of over $69,000 on March 5.
-- Shortly after hitting this peak, its price plummeted by nearly $10,000, resulting in over $1 billion in liquidations.
-- Despite the initial drop, BTC recovered in the following days, stabilizing around the $67,000 to $68,000 range.
-- Over the weekend, BTC surged to an unprecedented peak of $70,000 before retracing slightly to nearly $69,000.
-- The extreme volatility adversely affected over-leveraged traders.
--- Industry experts anticipate BTC's recent strong performance to continue, potentially leading to new price highs.
-- Some experts attribute the anticipated continued growth to the upcoming halving scheduled for April.
-- Historically, the halving event has been followed by significant market surges and new all-time highs for multiple cryptocurrencies.
To delve deeper into the intricate dynamics of Bitcoin's recent volatility and the upcoming halving event, be sure to check out the comprehensive analysis provided in the following article:
https://coinpedia.org/price-analysis/bitcoin-price-to-hit-100k-in-next-40-days-heres-why/