Bitcoin Hits $52,000-Plus, Explodes Over 21% For 2024

Name	Symbol	Market	Market Cap ($)	Algorithm
Quant	QNTUSD	Crypto	1,065,797,229	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Quant

QNTUSD

Crypto

1,065,797,229

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.050	0.07%	73.27	73.20	73.27

Price Change

Price Change %

Current Price

Bid Price

Offer

0.050

0.07%

73.27

73.20

73.27

High Price	Low Price	Open Price	Prev. Close	52 Week Range
73.53	71.95	73.02	73.22	63.89 - 153.83

High Price

Low Price

Open Price

Prev. Close

52 Week Range

73.53

71.95

73.02

73.22

63.89 - 153.83

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	14:22:30	0.135000	73.27	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

14:22:30

0.135000

73.27

USD

Price x Volume	Volume	Base Symbol	Related Pairs
290,909.02	3,991.30	QNT	QNTEUR	QNTGBP	QNTBTC

Price x Volume

Volume

Base Symbol

Related Pairs

290,909.02

3,991.30

Bitcoin Hits $52,000-Plus, Explodes Over 21% For 2024 – Details

15/02/2024 6:24am

NEWSBTC

Bitcoin bulls are back in charge, with the world’s leading cryptocurrency surging past $52,000 on Wednesday following a long hiatus. This rally comes on the heels of a brief dip below $50,000 triggered by hotter-than-expected US inflation data, but investors shrugged it off, demonstrating resilient confidence in the digital asset’s future. Bitcoin is up more than 21% so far this year. Related Reading: Are We Headed For Another $69K? Bitcoin Price Surges As Greed Dominates Crypto Market Bitcoin Shows Mettle With $52K Breach This latest surge marks a significant milestone, not just for Bitcoin but for the entire cryptocurrency ecosystem. After 26 months, the top crypto asset has officially surpassed the coveted $1 trillion market cap, a testament to its growing adoption and mainstream appeal. Bitcoin breaks past the $52k level. Source: Coingecko But what’s driving this renewed optimism? Several factors seem to be fueling the flames. Firstly, there’s the bullish sentiment surrounding Bitcoin, with many analysts and traders anticipating further price gains. Options traders are particularly optimistic, placing bets that one BTC could reach $75,000 in the coming months, adding fuel to the fire. Related Reading: Binance Stirs The Waters With A 200 Million XRP Transfer – What’s The Plan? Secondly, the recent launch of spot exchange-traded funds (ETFs) in the US has played a significant role. These ETFs allow investors to gain exposure to Bitcoin without directly holding it, attracting institutional investors and driving significant inflows. Nearly $10 Billion Flows Into The Crypto Market Data from CryptoQuant reveals that a staggering $9.5 billion has poured into the Bitcoin market through these ETFs since their debut in January. In fact, over 70% of new money invested in Bitcoin in the past two weeks has originated from these spot ETFs, highlighting their growing impact. Looking ahead, the upcoming halving event in April looms large. This programmed halving, occurring every four years, reduces the amount of new Bitcoin entering circulation, potentially impacting its price due to increased scarcity. Historically, Bitcoin has witnessed significant rallies following halving events, and many analysts believe this time will be no different. BTCUSD reclaiming the key $52k level on the daily chart: TradingView.com “The upcoming halving will further tighten supply,” noted Duncan Ash, head of product go-to-market strategy at Coincover. “If history repeats itself, we can expect continued growth in BTC price in the months ahead.” However, not everyone is singing an entirely bullish tune. While analysts at Swissblock agree that the uptrend is likely to continue, they caution against overexuberance, warning of potential slowing momentum and the inherent volatility of the market. Ultimately, the future of Bitcoin remains uncertain, as with any cryptocurrency. However, this recent surge, driven by bullish sentiment, ETF inflows, and the upcoming halving, suggests that the bulls are firmly in control for now. Featured image from Pexels, chart from TradingView

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