Why Bitcoin is at an All-Time High; Will It Continue to Rise?

Analysts believe the prices of bitcoin will continue to rise in 2024.

Regulatory uncertainties in over 190 countries, exemplified by Nigeria’s recent crackdown on cryptocurrency transactions, pose significant challenges for investors, said an expert

Bitcoin is now more valuable than ever. It hit an all-time high of $68,900, the highest price in its 15 years’ history, with a market capitalisation of $1.35 trillion.

Considered to be most volatile, analysts are not surprised about the sudden rise and fall of the cryptocurrency, which dropped below $17,000 after the fall of Bankman-Fried’s FTX in November 2022.

According to the Farside Investors data, Bitcoin ETFs have soared to an excellent level of $6.7 billion since the Securities and Exchange Commission gave them an approval at the beginning of the year. These Bitcoin ETFs, on average, are clocking a daily inflow of nearly $210 million, as mentioned by Forbes report.