Bitcoin has just established a new record price by surpassing 118,000 USD in the cryptocurrency market.
The value of Bitcoin increased by nearly 6% in one day, marking a strong recovery amid growing interest from investors in the cryptocurrency market.
MAIN CONTENT
Bitcoin reached a peak of 118,050 USD, establishing the highest price in history.
Growth of nearly 6% in just 24 hours reflects strong appeal from investors.
Positive signals for the cryptocurrency market amid competition and significant volatility.
How much has Bitcoin reached its new record price and what is its impact?
The price of Bitcoin has just been recorded at 118,050 USD, marking the highest level ever according to data from the OKX market.
This is a positive sign that reflects strong purchasing power and investor confidence in this leading cryptocurrency. According to a report on July 11, the price of Bitcoin increased by 5.96% in just one day, reflecting a strong recovery after previous market fluctuations. Achieving a new ATH also affirms Bitcoin's leading position in the cryptocurrency ecosystem and continues to attract significant capital flows from both institutional and individual investors.
Bitcoin is not only the leading digital asset but also demonstrates sustainability and long-term growth potential as it continuously sets new all-time highs in the market.
J. Smith, CEO of a cryptocurrency investment company, 2024
What drives Bitcoin's price to rise rapidly in just one day?
Bitcoin's price increased by nearly 6% in 24 hours due to a combination of economic factors and positive market sentiment.
This event often comes from high trading volume, ample liquidity, and new capital flowing into the cryptocurrency market. Additionally, the stable financial reports of major Bitcoin holding companies also build strong confidence in the community. According to financial expert L. Nguyen, global developments and loose monetary policy contribute to driving the price increase.
The role of exchanges in forming Bitcoin's price
Major exchanges like OKX, Binance, and Coinbase play a central role in shaping Bitcoin's price through supply and demand and liquidity.
Price fluctuations on these exchanges reflect investor sentiment and also influence the overall market trend. The spike in trading volume on OKX on July 11 is evidence of strong purchasing power in the market, creating momentum for Bitcoin to rise to new highs.
Price movements and levels on major exchanges are important indicators for investors to closely monitor the momentum of the cryptocurrency market.
M. Tran, Cryptocurrency market analyst, Q2 2024
Comparing Bitcoin's price increase with other cryptocurrencies
Cryptocurrency Latest Price (USD) 24-hour Growth (%) Notes Bitcoin (BTC) 118,050 5.96 New ATH established on OKX Ethereum (ETH) 3,750 3.20 Improvement due to network update Binance Coin (BNB) 450 2.80 Stable, less volatility
Frequently Asked Questions
1. When did Bitcoin reach a new record price? On July 11, 2024, Bitcoin reached 118,050 USD according to statistics from the OKX market. 2. What caused the price of Bitcoin to increase by more than 5% in one day? The price increase was due to high trading volume and active participation from investors in a favorable market context. 3. What does this price level mean for the cryptocurrency market? It reflects recovery and high confidence in Bitcoin, increasing the appeal for the entire cryptocurrency market. 4. Do other cryptocurrencies increase in price alongside Bitcoin? Many others increase, but the speed and degree of volatility may vary due to specific factors. 5. What should investors do when Bitcoin hits a new peak? They should closely monitor market trends, implement risk management, and diversify their investment portfolio.
Source: https://tintucbitcoin.com/bitcoin-len-tren-118-000-usd-tang-596/
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