The popular cryptocurrency Bitcoin hit a new all-time high above $71,000 on Monday, a week after setting yet another record high. Since the beginning of the year, the currency has gone crazy, increasing in value by 70%. The coin is now four times more expensive than it was 14 months ago.
On March 5, Bitcoin approached $70,000, surpassing the record set in November 2021.
Bitcoin is starting to be accepted by more financial institutions, but its price has fluctuated wildly in recent years, with the worst times coming in 2022.
Bitcoin started 2021 at $40,000, fell to $30,000 in the summer, and approached $70,000 in November, setting an all-time high of $68,789 on November 10, 2021.
Bitcoin briefly dipped below $20,000 in the summer of 2022 and will remain low, with lows below $16,000 and year-end lows below $17,000.
And 2023 started quite weak, but there were “peaks” over $30 thousand in the middle of spring and summer, and at the end of the year the quotation was $42 thousand. The price at the end of 2023 was more than 2.5 times higher than at the beginning of the same year
Sources: AFP, statista.com
Photo source: Dreamstime.com
Source: Hot News
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.