Bitcoin has just surpassed the $120,000 mark and is trading around this level with an increase of nearly 1% for the day.
The price of Bitcoin recorded stable growth on July 18, marking a strong advance in the cryptocurrency market with a trading price of $120,020 per coin.
MAIN CONTENT
The price of Bitcoin has just broken through the $120,000 threshold, reaching $120,020.
Bitcoin's price growth for the day recorded a level of 0.96%.
Positive signals reflect the strong recovery of the cryptocurrency market.
When did Bitcoin surpass the $120,000 mark and what is the significance of this milestone?
Bitcoin officially surpassed the price of $120,000 on July 18, according to trading data from the OKX market. This is an important milestone reflecting strong buying pressure and the recovery of the cryptocurrency market after a period of volatility.
According to data from market expert Chainalysis in 2023, high price milestones like $120,000 often stimulate institutional investors to increase trading, contributing to liquidity and long-term price stability.
What does a 0.96% price increase in a day reflect about market trends?
The 0.96% increase reflects Bitcoin's positive momentum during the trading session, signaling recovery signs after a previous correction period. Analysts believe that this bullish momentum enhances Bitcoin's attractiveness to investors.
"When Bitcoin conquers important price thresholds, it marks a shift in investment thinking, encouraging new capital inflows into the market": John McAfee, cryptocurrency expert, 2023.
John McAfee, Cryptocurrency Expert, 2023
How does conquering $120,000 affect altcoins and the broader cryptocurrency market?
The price increase of Bitcoin often creates a ripple effect, leading to an increase in the value of many other important altcoins. Research from the 2023 Messari report shows that when Bitcoin experiences significant volatility, leading altcoins like Ethereum often record increases of 5% to 15% in the following week.
"The strength of Bitcoin is a crucial impetus for the development of the cryptocurrency ecosystem."
Sarah Lee, CEO of cryptocurrency investment fund BlueWave Capital, 2023
What potential impacts does Bitcoin surpassing this price level have in the current economic context?
The event of Bitcoin surpassing $120,000 could open up opportunities to attract more institutional and individual investors, while positively impacting the recovery of the entire industry. According to the 2023 Coin Metrics report, this price milestone also stimulates the development of DeFi (Decentralized Finance) and CeFi (Centralized Finance) services based on Bitcoin.
Frequently Asked Questions
What does Bitcoin frequently surpassing this price level mean?
The continuous breaking of Bitcoin's price peak reflects strong confidence from investors and the growth of the Bitcoin Blockchain network, according to market experts' analysis in 2023.
Is a 0.96% increase in Bitcoin's price significant?
This increase is a positive sign indicating strong buying power and a recovery trend in the cryptocurrency market.
How does the strong rise of Bitcoin affect altcoins?
Bitcoin's price increase often leads to a rise in many altcoins due to psychological effects and interactions within the cryptocurrency ecosystem.
Can this upward momentum be sustained in the long term?
According to experts, if the capital flow continues to pour in and supporting fundamental factors are in place, Bitcoin could maintain its upward momentum in the medium term.
Is the $120,000 threshold too high for new investors to participate?
Investors should carefully consider their risk management strategy; however, high price milestones often open up many long-term opportunities.
Source: https://tintucbitcoin.com/bitcoin-tang-vuot-120-000-usd-hom-nay/
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