The digital currency Bitcoin, which is based on blockchain technology, is displayed in the chart. From over $30,000 in October 2023 to over $42,000 now, the price of Bitcoin has surged in the last several months. This indicates a more than 40% increase in a short period of time.
A number of reasons, such as expanding institutional acceptance, increased awareness of Bitcoin as a store of value, and the introduction of multiple new Bitcoin exchange-traded funds (ETFs), have contributed to the current spike in the price of Bitcoin.
Bitcoin’s current bull run may continue, and in the upcoming years, the price may rise as high as $100,000. Others, who are more cautious, caution that a correction may be approaching and that the current price gains may not be sustainable. What the future holds for Bitcoin is yet unknown, but one thing is certain: it is a risky investment that is not for the timid.
Source (CNBC)
