MarketsMar 13, 2024
The Bitcoin Price Has Hit a Record High After Fresh Wave of Enthusiasm
Bitcoin's price is soaring once again, fueled by a mix of true believers and speculation. The top cryptocurrency hit $73,000 as of March 13th, 2024, almost $10,000 higher than its 2021 peak.
Why the Surge?
- Scarcity: Bitcoin has a capped supply, unlike traditional currencies. This scarcity narrative is a major driver of price increases, according to believers.
- ETF Approval: The recent launch of Bitcoin ETFs has opened up the cryptocurrency to a wider range of investors, boosting demand.
- Meme Mentality: Similar to the meme stock frenzy of 2021, some investors are buying in simply because they believe the price will continue to rise (and possibly some FOMO as well)
Dataset
| BTC Price (rounded) | |
|---|---|
| Mar-23 | $24000 |
| Apr-23 | $30000 |
| May-23 | $27000 |
| Jun-23 | $25000 |
| Jul-23 | $31000 |
| Aug-23 | $29000 |
| Sep-23 | $27000 |
| Oct-23 | $27000 |
| Nov-23 | $36000 |
| Dec-23 | $43000 |
| Jan-24 | $42000 |
| Feb-24 | $50000 |
| Mar-24 | $73000 |
Data sources
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