Bitcoin has experienced a surge, reaching $70,000.

[XTRAVAGANZA]

Bitcoin has skyrocketed to $70,000, marking a significant milestone in its journey as the leading cryptocurrency. This surge reflects the growing interest and confidence in Bitcoin as a valuable asset.

 

With its decentralized nature and limited supply, Bitcoin is increasingly seen as a hedge against inflation and a store of value in uncertain economic times. This achievement underscores Bitcoin's resilience and highlights its potential to reshape the financial landscape. What are your thoughts on Bitcoin reaching this historic milestone? Join the conversation!

[MongiIG]

10 minutes ago, XTRAVAGANZA said:

Bitcoin has skyrocketed to $70,000, marking a significant milestone in its journey as the leading cryptocurrency. This surge reflects the growing interest and confidence in Bitcoin as a valuable asset.

 

With its decentralized nature and limited supply, Bitcoin is increasingly seen as a hedge against inflation and a store of value in uncertain economic times. This achievement underscores Bitcoin's resilience and highlights its potential to reshape the financial landscape. What are your thoughts on Bitcoin reaching this historic milestone? Join the conversation!

Bitcoin Hits a New All-Time High
Mar 11, 2024 10:57 AM +02:00 |  Nick Cawley, Senior Strategist

 

Bitcoin has started the week with a surge, dragging the rest of the cryptocurrency space higher with it. Late last week Bitcoin tried and failed to make a fresh all-time Bitcoin demand remains high, but this morning a new ATH was achieved with ease as buyers took control of the market. Bitcoin demand remains highs, driven primarily by the new ETF providers, while new supply is limited. The supply side of the equation will soon get tighter when the Bitcoin halving event takes place in mid-April.

News also out earlier that the LSE plans to accept applications for Bitcoin and Ethereum ETNs in Q2 may have also helped today’s push higher.

The Next Bitcoin Halving Event – What Does it Mean?

Bitcoin is now in price discovery mode as it trades ever higher. Ongoing demand could see the $75k level tested soon although a sharp reversal lower cannot be discounted. Cryptocurrencies remain highly volatile, highlighted by the March 5th daily candle that showed BTC/USD hitting $69k and $59k in the same session.

BITCOIN DAILY PRICE CHART

[Imam]

Since BTC is above my target and closed it can go as high as 73-75K. So, gonna short again below 71k!

[svetanor]

I even saw predictions like this after halving. Something interesting's coming!

[AhmedMarsh]

Diverse views merge, with some expressing optimism about its potential growth, while others exercise caution, citing market volatility. Personally, I acknowledge the crypto's upward trajectory but remain wary of unforeseen fluctuations. The discussion prompts consideration of various factors influencing Bitcoin's value, highlighting the complex dynamics at play. If you look at the charts, then this is a clear payback for all investors

[Jaja24]

I did place a bet with my friend that btc is going to touch $72k before any form of reversal, he argued and short lol.. am still observing before opening any short positions on bitget futures, btc might hit $75 .. 

[Imam]

7 hours ago, Jaja24 said:

I did place a bet with my friend that btc is going to touch $72k before any form of reversal, he argued and short lol.. am still observing before opening any short positions on bitget futures, btc might hit $75 .. 

🙈🙊 Unless there's a strong sign of reversal, shorting is not a good idea at all!