Bitcoin just surpassed the 118,000 USD mark, demonstrating stable strength in the cryptocurrency market.
Bitcoin is currently trading around 118,007.80 USD, slightly down by 0.04% today, indicating stable price fluctuations after the recent breakout.
MAIN CONTENT
Bitcoin reached the 118,000 USD mark after several days of accumulation.
The daily price volatility of BTC is low, only decreasing by 0.04%.
The signs of stability help reinforce investor confidence in Bitcoin.
What price did Bitcoin just reach and what does this price level mean?
Bitcoin has surpassed the 118,000 USD threshold, one of the important psychological price levels, demonstrating market strength. Financial experts believe that this price level sets the stage for mid-term growth as liquidity remains assured.
According to analysis from TechFinance's Investment Director, Mr. Nguyen Van Minh (2024), this breakout contributes to strengthening institutional investor confidence and stimulates more dynamic trading.
Why did the price of Bitcoin decrease slightly by 0.04% despite just reaching a new peak?
The 0.04% decrease in Bitcoin price indicates a slight correction after reaching a peak, establishing stability before major fluctuations. This phenomenon is commonly seen after price breakouts that help investors rebalance their portfolios.
Bitcoin often experiences mild fluctuations after reaching new highs, which is normal and beneficial for the sustainable development of the market.
Mr. Tran Huu Quang, CEO of FinTech Insights, 2024
How does Bitcoin's price volatility affect the cryptocurrency market as a whole?
Bitcoin's price strength is often an important measure that affects the entire cryptocurrency market. The stability of BTC around the 118,000 USD mark helps consolidate liquidity, leading to positive price increases in Altcoins and Stablecoins.
Reports from 2023 show that the sustainability of Bitcoin directly impacts over 60% of the global cryptocurrency market capitalization.
What factors help Bitcoin maintain its current upward momentum?
Key factors include increased demand from institutional investors, improvements in blockchain technology, along with interest from traditional financial investment funds playing a crucial role.
Widespread adoption and technical development of Blockchain are the foundation for Bitcoin to maintain its leading position in the cryptocurrency market.
Dr. Le Thanh Son, Blockchain Expert, 2024
Frequently Asked Questions
What is the current trading price of Bitcoin?
Bitcoin is trading around 118,007.80 USD with a slight decrease of 0.04% today, according to the latest market data.
What impact does a strong rise in Bitcoin price have on other cryptocurrencies?
The rise in Bitcoin price helps promote stability and price increases for Altcoins, enhancing overall liquidity in the cryptocurrency market.
What factors have the greatest impact on Bitcoin's price today?
Institutional investment, technological improvements, and interest from financial funds are the main factors supporting Bitcoin's price.
Why, after reaching a new high, did the price of Bitcoin decrease slightly?
This is a natural correction phenomenon that helps stabilize the market and avoid pump-and-dump schemes, creating opportunities for reasonable capital reallocation.
Is Bitcoin surpassing 118,000 USD a sign of a long-term bull market?
This breakout is a positive signal supporting the bullish trend forecast for Bitcoin in the upcoming period.
Source: https://tintucbitcoin.com/bitcoin-cham-118-000-usd-giam-nhe/
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