Bitcoin, the world’s most well-known cryptocurrency, surpassed the $117,000 mark early Friday morning, reaching a new all-time high of $117,265 in the digital currency market.
Amid speculation about the broader adoption of Bitcoin in international payments, the surge has been attributed to increased demand from institutional investors and a global decline in selling pressure.
Technical and economic analysts believe the current upward trend is likely to continue, with some predicting that Bitcoin could reach $140,000 by the end of the year.
Meanwhile, Ethereum, the second-largest cryptocurrency by market cap, has seen a rise of over 5% in the past 24 hours, reaching approximately $2,798.
According to previous forecasts, Bitcoin’s upward trajectory is expected to persist, and prices of $120,000, $130,000, and even $150,000 may not be out of reach by the end of the calendar year.
