Bitcoin hits new all-time high as price reaches $68,000.
Bitcoin price has hit a record high of $68,000 on Coinbase.
Bitcoin's market capitalization outpaced the meta-platforms, rising to $1.32 trillion compared to $1.27 trillion.
Bitcoin's impressive rally over the past few days saw another big surge today. After retreating to a low of $61k last week, Bitcoin price rose more than 7% in 24 hours to hit a high of $68,000 on crypto exchange Coinbase on Monday.
The increase pushed BTC to more than $4,100, the major cryptocurrency's all-time high in 2021. During that bull cycle, the price of Bitcoin rose to $69,044. In today's performance, Bitcoin is less than 2% from that peak.
With the disappointment of spot Bitcoin ETFs and the supply shock due to the upcoming halving, analysts are saying that BTC still has a lot of room to grow. ETF analyst Eric Balchunas said last week's trading volume was “more of a new normal than a coincidence.”
The Ten Bitcoin ETF is a virtual lock to record the second largest volume today. So last week's big upheaval in business activity seems more like the new normal than the anomaly. pic.twitter.com/dOfIQ7hhS2
— Eric Balchunas (@EricBalchunas) March 4, 2024
As the price of Bitcoin continues to rise, its market value has surpassed that of top assets such as Visa, Tesla, Broadcom and TSMC. On Monday, BellClip hit $1.32 trillion in market capitalization, surpassing 10 ranked meta platforms.Th between Large properties at market value 1.28 trillion dollars.
Bitcoin is now 9 behind silver.ThWith precious metal 8Th A market cap of $1.358 trillion.
