$BTC Surpassed $40,000, Can We See New All Time Highs in 2024?
$BTC on a Rocket Ride now.
On Monday morning Asia time, The price of Bitcoin has surpassed $40,000 for the first time since April 2022, bolstered by anticipation of a bitcoin exchange-traded fund approval and bets on U.S. interest rate cuts.
Bitcoin is now up more than 145% since the start of this year.
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In 2023 alone, Bitcoin prices are now up 142%, adding ~$500 BILLION in market cap.
Even after such a hot run, the market cap of crypto is only half of its all time high. Calls for Bitcoin to $100,000 are quickly returning with this rally.
Can we see new all time highs for Bitcoin in 2024?
What will be the next trend for Bitcoin?
“Revisiting $40,000 for the first time in nearly 19 months, $48,000 and $52,000 look set to be the next big boundaries,” said Antoni Trenchev, co-founder of digital asset firm Nexo.
“The speed of Bitcoin’s move toward $50,000 will likely depend on when a spot Bitcoin ETF is approved, and even then, there’s no guarantee that the much-anticipated SEC approval will give Bitcoin prices a rocket booster,” Trenchev said.
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- Alex Tan·2023-12-04I have zero confidence for cryptoLikeReport