Bitcoin does not slow down its progress: the value from the cryptocurrency most famous in the world has reached altitude $65,000 (59,850 euros) on the morning of March 4, with an increase of +5.5%. Bitcoin is just a breath away maximum valuereached in November 2021: $68,999.99.
Bitcoin towards its maximum value
In the 2024 Bitcoin gained the +50%. The growth, after an uninspiring two years, has been concentrated in particular in recent weeks, thanks to the large influx into the relevant funds listed on Wall Street. The push for the king of cryptocurrencies comes from spot ETFs. The total value of all Bitcoins in circulation has exceeded 2 billion billion dollars for the first time in the last two years.
The US SEC (Securities and Exchange Commission), or the equivalent of Consob, has approved exchange-traded funds anchored to the spot price of Bitcoin: the launch has boosted investor confidence in the cryptocurrency and multiplied investments.
But crypto has also been pushed in response to cuts in the cost of money of the Federal Reserve. When borrowing money becomes easier, investors respond by pouring more liquidity into the markets. Lower rates push investors to make reckless trades. And one of the markets that have benefited from the situation is that of cryptocurrencies.
“Flows are not drying up, as investors feel more confident when the price appears to be rising,” said Markus Thielen, head of research at cryptocurrency analytics house 10x Research in Singapore.
It should also be added that today Bitcoin has more closely linked its performance to that of the dollar than in the past, which has been gaining ground against the euro since the beginning of 2024.
“In a world where the Nasdaq is making new all-time highs, the cryptocurrency is poised to perform well, as Bitcoin remains a highly volatile technology proxy and liquidity gauge,” said Brent Donnelly, president of the analyst firm Spectra Markets.
Bitcoin Halving in 2024: When is it expected?
Meanwhile, theBitcoin halvingthe event that every 4 years leads to a decrease in supply because the reward for those who mine cryptocurrency is halved. The next halving is scheduled for April 17. It is possible that the impending scarcity effect has pushed Bitcoin’s appreciation higher.
Mining Bitcoin: what it means
Minting Bitcoin (or engaging in “mining” activity, as they say in jargon) consists of using heavy algorithms to generate cryptocurrency. All of this requires specific software and computers with high computing capabilities.
Nothing lasts forever and Bitcoins are no exception: the total production of Bitcoins will be 21 million pieces. At the moment 19 million have already been minted. According to what has been calculated, the last Bitcoin will be minted in 2140. Unless the protocol is changed.
Matthew is the seasoned editor at ‘Latest News And Updates’ with a knack for impactful journalism. His career, spanning a decade, started in local news, climbing the ranks with a commitment to truth and compelling storytelling. As the editorial lead, he steers the newsroom with passion, ensuring content integrity and fostering a well-informed readership.
