Bitcoin (BTC), the largest cryptocurrency by market capitalization, is likely to hit record highs on more than 70 days this year, more than triple last year’s number, if the price continues to mirror 2017’s performance.
It’s already on the way, hitting $109,000 on Jan. 20, the day of President Donald Trump’s inauguration. In 2024, it made 23 records, the most since 2017, when it touched all-time highs on 77 days. This year, the price action seems to be tracking the trajectory of eight years ago.
Record highs seem to elicit different reactions in crypto and traditional financial markets. Typically, when bitcoin breaks to a new high, the market is deemed overheated, greedy and overpriced. Assets such as gold and equities, however, often extend their bull runs. Gold made new all-time highs at least 33 times in 2024.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Onchain data shows multiple cost basis metrics confirm heavy demand and investor conviction around the…
Bitcoin’s bearish momentum has since reached a cool-off state, as price maintains above the last…
Executive John Ameriks emphasized Vanguard's core view of the crypto sector hasn't changed, seeing the…
The recommendation is in line with other global asset managers like BlackRock and Bank of…
The Bitcoin market is experiencing a gradual trend reversal following weeks of prolonged price correction…
Rising Japanese rates and a stronger yen threaten carry trades and could pressure crypto markets…