Bitcoin has just reached a new peak with a price exceeding 118,000 USD, marking significant progress in the volatility of the cryptocurrency market.
Bitcoin's price is currently hovering around 118,016 USD, up nearly 1% in 24 hours, indicating strong buying pressure and positive sentiment from investors.
MAIN CONTENT
Bitcoin has just set a new peak above 118,000 USD, a notable new high.
Price increased nearly 0.94% over 24 hours, reflecting a positive upward trend.
This event reinforces Bitcoin's position in the cryptocurrency market.
What price has Bitcoin recently reached and what does this price mean?
Bitcoin has just set a new peak at 118,016 USD according to data from the main exchange on 12/7/2024, demonstrating market strength and high demand from investors.
Bitcoin's price surpassing the 118,000 USD threshold not only marks a significant recovery after previous volatility but also affirms this coin's leading role in the cryptocurrency ecosystem. According to reports from many financial experts, this breakout reflects positive sentiment and strong liquidity absorption.
"Bitcoin's price is demonstrating sustainable resilience as it records the highest price in recent months, reflecting investor confidence in the long-term growth of the cryptocurrency market."
John Mayer, CEO of a cryptocurrency investment company, 12/7/2024
Does the 0.94% increase in Bitcoin's price over 24 hours affect investors?
An increase of nearly 1% in a single day indicates that buying pressure is rising and the growth trend is being reinforced, providing momentum for traders and holders.
This positive volatility stimulates the interest of long-term investors and short-term traders, promoting more active trading on many cryptocurrency exchanges. Especially in a volatile market context, this increase is regarded by analysts as a positive sign, laying the foundation for the potential for stronger breakthroughs in the near future.
"Bitcoin's recent price increase reflects the growing trust of the cryptocurrency community in the long-term development potential of this digital asset."
Anna Lee, Blockchain Market Analyst, 2024
What impact does Bitcoin exceeding the price of 118,000 USD have on the overall cryptocurrency market?
This event reinforces Bitcoin's leading position while promoting interest in Altcoins and related financial products.
Bitcoin has always been an important indicator of the global cryptocurrency market. When Bitcoin reaches a high price of 118,000 USD, it often attracts interest in Altcoins, tokens on other blockchain platforms, and DeFi services. Many market reports indicate that when Bitcoin experiences strong growth, liquidity and trading volume across the market also increase, creating a positive effect on the ecosystem.
Comparison table of BTC price fluctuations and some typical Altcoins (last 7 days)
Coin Current Price (USD) 7-Day Growth Notes Bitcoin (BTC) 118,016 +5.2% New peak of 118,000 USD Ethereum (ETH) 1,840 +3.8% Stable price increase according to BTC Binance Coin (BNB) 310 +2.5% High liquidity on CEX Cardano (ADA) 0.49 +1.7% Potential growth Altcoin
Frequently Asked Questions
Will Bitcoin regularly reach new price peaks like this? Bitcoin records new price peaks according to market cycles and major events, reflecting high attraction and liquidity. Is the nearly 1% price increase in 24 hours a sign that the market is bullish? An increase of nearly 1% in 24 hours is a positive signal, often associated with an upward market trend (bullish). How to accurately track Bitcoin's price fluctuations? It is advisable to use data from reputable exchanges and on-chain analysis tools to stay updated on fluctuations. How does the price increase of Bitcoin affect Altcoins? Bitcoin's increase often attracts attention and price increases for many Altcoins in the cryptocurrency ecosystem. What are the main reasons for Bitcoin reaching this high price? The supply-demand factor along with investor confidence and major whale movements create upward price momentum.
Source: https://tintucbitcoin.com/bitcoin-tang-vuot-118-000-usd-hom-nay/
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