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Bitcoin may break the value record this year

July, 02 2024
watermark Economic news

Bitcoin, which reached historical highs in March 2024 and then fell significantly, may again approach record levels, according to experts from the analytical firm CCData.


Analyzing the dynamics of the bitcoin exchange rate during the three previous cycles of boom and bust, they came to the conclusion that the current period of growth may continue until the beginning of 2025. Experts noted that the participation of institutional players in the current cycle has changed previous trends, but warned that activity in the cryptocurrency market may decrease in the third quarter, which can cause fluctuations in the bitcoin exchange rate.


«Despite this, the data and past trends are strong enough to suggest that these fluctuations will be temporary, and we are likely to see new records before the end of the year,» the CCData report says.


According to CoinDesk, at Tuesday's auction, the bitcoin exchange rate fell by 0.9% to $62,662. In March, the quotes reached $73,700.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.