!Bitcoin records its highest weekly close in history and approaches its peak

Bitcoin recorded its highest weekly close ever at $106,500 on May 18, making it less than 3% away from its all-time high of $109,358. This closing marks the sixth consecutive week in a series of green weekly candles, reflecting the continued positive momentum in the market.

Currently, Bitcoin is trading around $104,730 after a 2% rise over the past 24 hours. It also achieved its highest daily close in history, which investor Scott Melker pointed out by saying: "Bitcoin closed above the highest daily candle ever".

Analyst Rekt Capital stated that a daily close above $105K means a new peak on the chart, which reinforces the bullish scenario.

In just the month of May, Bitcoin rose from $94K to over $106K, in a performance reminiscent of last November's jumps when the currency rose $30,000 in 3 weeks.

In this context, McKenna from Arete Capital noted the return of the "Coinbase premium", which is an indicator of increased U.S. demand, and said that this movement on Sunday evening may be linked to significant news coming.

For his part, analyst Willy Woo explained that the compound annual growth rate (CAGR) of Bitcoin is slowing down as it matures as a global financial asset, expecting it to stabilize around 8% over the next 15-20 years, while emphasizing that "no investment product can match Bitcoin's long-term performance".

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