Bitcoin hits “unimaginable” levels since 2021

CNBC cited data from CoinMarketCap showing that Bitcoin prices have been continuously increasing sharply. As of the evening of February 14, the world's largest cryptocurrency was trading around $51,800, up 21% compared to 7 days ago.

"This has pushed Bitcoin's market capitalization past $1 trillion. The last time this cryptocurrency reached a market capitalization value above $1 trillion was at the end of 2021" - CNBC said.

The effect from Bitcoin also brought "green" to the entire cryptocurrency market throughout the past week. Photo: CNBC

The effect from Bitcoin also brought "green" to the entire cryptocurrency market in general, such as Ethereum increasing to 2,765 USD, Solana reaching 117 USD or BNB reaching 333 USD.

Statistics show that Bitcoin has increased in value by 150% in 2023. Since the beginning of 2024, the world's largest cryptocurrency has continued to increase in value by 21%.

"The main driver for Bitcoin's strong growth comes from the approval of a Bitcoin ETF," CNBC explained.

Many experts also predict that Bitcoin prices will continue to rise this year.

The prediction comes as Bitcoin approaches its "halving" phase, when the reward for Bitcoin miners will be cut in half.

This happens every four years, contributing to Bitcoin's deflationary process.

For previous cycles, the Bitcoin “halving” process would typically occur a year before the bull cycle.

"The next Bitcoin 'halving' event is expected to happen next April" - CNBC quoted comments from cryptocurrency experts.

Source: https://nld.com.vn/bitcoin-dat-muc-khong-tuong-ke-tu-nam-2021-196240215141439602.htm