Bitcoin Surpasses $45K: Gold vs. BTC War Update
Bitcoin (BTC), the leading cryptocurrency, has recently surpassed the level of $45,2022, a milestone it hadn’t reached since April 1st. Alongside Bitcoin, other altcoins are also experiencing an upward trend. This raises a question: which investment yielded more in the year 2024 – a quarter of gold, BTC, or ETH?
Cryptocurrencies, often dubbed as the most debated investment vehicles in recent years, have kicked off 2024 with a strong start. The largest cryptocurrency, Bitcoin (BTC), has reached $45,2022 in the past few hours, a level last seen in April of the previous year.
Indeed, the year 2024 has been long anticipated to be a significant one for cryptocurrency markets, with various developments expected to unfold. For instance, there are indications that the US government might finally approve a spot ETF for BTC. Additionally, the Bitcoin halving event, which occurs every 210,000 blocks, is drawing nearer. Expected to occur around April or May, this halving is anticipated to positively influence the markets.
Year-to-date gains in BTC are close to 200%!
On January 2, 2023, the price to acquire 1 BTC stood at $16,700. Fast forward to January 2, 2024, the date of this article, and that price has escalated to $45,850. This substantial increase translates to an annual gain rate of 174.55 percent for 1 BTC.
The current prices in the top 10 cryptocurrencies are as follows:
The surge in BTC value has positively influenced the entire market, leading to an appreciation in nearly all altcoins.
A glance at the current prices reveals that almost all of the top 10 cryptocurrencies by volume have experienced an increase in value. However, in this upward trend, Avalanche (AVAX) stands out as the only altcoin that has depreciated in value over a 1-week period.
The gain in Ethereum (ETH) is at the level of 100%
When we look at the situation in Ethereum (ETH), the second largest asset in the market, we see a 100% gain. The current price of ETH, which was traded at $2,2023 on January 1, 200, is $2,400.
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