Bitcoin (BTC) Hits New Record High: Surpasses $71K, Breaking Records for 3rd Time

MetaversePlanet March 11, 2024Last Updated: March 11, 2024

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Continuing its upward trend, Bitcoin (BTC) has once again surpassed its all-time high. The price of BTC reached a new record high, exceeding $71,000.

Bitcoin has been prominently featured in recent news due to its breaking of the all-time high (ATH) record once again. Recently, BTC touched the $71,627 mark and is currently trading at $71,250 at the time of writing. It remains uncertain whether BTC will continue to surge and set new ATH levels.

BTC had previously updated its ATH level just a few days ago, breaking through the $69,000 mark before climbing past $70,000 and now surpassing $71,000. As a result, the 24-hour increase in BTC’s price has exceeded 2.3 percent.

ATH in BTC has benefited altcoins!

The update to Bitcoin’s (BTC) all-time high (ATH) has positively influenced all altcoins in the market. Ethereum (ETH), the second-largest cryptocurrency, is currently trading above $4,000.

Binance Coin (BNB) is at $530, Solana (SOL) at $150, and Dogecoin (DOGE) at $0.1754. The total value of the cryptocurrency market has reached $2.6 trillion.

Bitcoin’s impressive gain of around 160% in value in 2023 has been both exciting and rewarding for its investors.

The anticipation builds as the “halving” event, which will cut the reward for Bitcoin mining in half, approaches. Many believe this event will positively impact the cryptocurrency markets, fueling expectations for even greater increases in value.