Join us
Join us
x
Accueil
chevron
News
chevron
Bitcoin
chevron
Bitcoin soars to $42,000 ! How far can BTC’s Price go ?
Copié

Bitcoin soars to $42,000 ! How far can BTC’s Price go ?

During the night of December 3rd to 4th, 2023, Bitcoin (BTC) reached a significant milestone by surpassing $41,000, a first since April 2022. This surge saw the price of BTC reach $42,000 this morning, maintaining itself above the psychological threshold of $40,000. In this article, we analyze the recent bullish trend of Bitcoin and explore future forecasts for the king of cryptocurrencies. What will be the next step for BTC ?

timer

Mis à jour le 12/05/2023 à 16:11

bitcoin price

Bitcoin on the rise ! how far can this new bull run take us ?

Last night, Bitcoin crossed the $40,000 mark, marking a +6% increase in just a few hours. Later this morning, the BTC price reached $42,000, and it is currently hovering around $41,500.

bitcoin price coinmarketcap
Source : Coinmarketcap

This surge in Bitcoin has led to price increases in other major cryptocurrencies such as Ethereum (ETH), Ripple (XRP), and Binance Coin (BNB) during the same period.

The reasons behind BTC’s rise

This upward momentum in Bitcoin can be attributed to various factors, including recent news of a possible approval of Bitcoin Spot ETFs. If the ETFs are approved by the SEC, it could have a significant impact on the cryptocurrency markets, potentially leading to an increase in the value of Bitcoin.

Furthermore, the upcoming Bitcoin halving scheduled for April 2024 is a major event. Previous halvings have demonstrated their ability to positively impact the price of Bitcoin. This programmed reduction in mining rewards intensifies the interest of cryptocurrency investors in Bitcoin, anticipating an increase due to the scarcity of supply.

Additionally, the monetary policy of the United States could influence the crypto market and Bitcoin. During periods of low interest rates, Bitcoin becomes an alternative asset for investors seeking higher returns.

Moreover, current geopolitical tensions have heightened interest in Bitcoin, which is considered a safe haven in times of uncertainty. It provides protection against traditional market fluctuations and plays an increasingly significant role in diversifying investment portfolios.

As evidence, the increase in addresses accumulating bitcoins is a testament to renewed confidence in Bitcoin. Despite its volatility, BTC is increasingly perceived as a strategic investment and a long-term store of value by participants in the cryptocurrency market.

Will the price of Bitcoin (BTC) rise or should we prepare for a fall ?

The year 2023 has been generally positive for Bitcoin, and the question on everyone’s mind is : Will Bitcoin return to its all-time high (ATH) in 2024 ?

However, it is important to note that BTC is still far from its historical ATH, which was approximately $70,000. Nevertheless, current trends and upcoming key events such as the next halving could keep BTC on an upward trajectory.

Bitcoin has recently achieved an impressive feat : it has entered the top 10 most valued assets in the world, with a total value of $813 billion. This performance places Bitcoin ahead of well-known companies like Berkshire Hathaway and Tesla.

bitcoin market cap

This demonstrates how important and recognized Bitcoin has become in the world of finance, attracting the attention and trust of an increasing number of investors.

Bitcoin investors must exercise caution and stay consistently informed. Each bullish cycle (bull run) comes with its share of risks, particularly in terms of liquidations. A potential rise of Bitcoin to $50,000 could be accompanied by short periods of sell-offs, especially in the current context where the bull run appears largely speculative.

⚠️ This article is published for informational purposes and should not be considered as investment advice. Crypto-currency trading involves risk and it is important not to invest more than you can afford to lose.

InvestX is not responsible for the quality of the products or services presented on this page and shall not be held liable, directly or indirectly, for any damage or loss caused as a result of using any goods or services highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

Léa

Léa

Léa is part of the InvestX team which supports members in their training. She is also a crypto enthusiast who follows the market closely. For the InvestX.fr site, she writes articles to help readers decipher the news and what happens day after day in the world of blockchains.

Risk Warning: Trading financial instruments and/or crypto-currencies involves high risks, including the risk of losing all or part of your investment, and may not be suitable for all investors. Crypto-currency prices are extremely volatile and can be affected by external factors such as financial, regulatory or political events. Trading on margin increases financial risk.

 

Before deciding to trade in financial instruments or crypto-currencies, you should be fully informed of the risks and fees associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and tolerance for risk, and seek professional advice if necessary.