Wednesday saw Bitcoin continue its ascent, breaking above $60,000 for the first time since November 2021.
Coin Metrics reports that the leading cryptocurrency’s price increased by 6% to $60,391.10. It reached a peak of $60,734.42 earlier. At $68,982.20, it is currently somewhat below its peak.
Now that the record is in the open, the market is even more eager to see that threshold broken. After a one-week hiatus, the price of bitcoin has increased by more than 18% this week alone. For 2024, it has increased by over 40%.
Since the introduction of ETFs made the asset class more accessible to institutional investors, investors anticipate that it will hit a new record this year. Additionally, the network’s impending halving event has historically set the way for a significant rise in the months that follow.
Source (CNBC)
