Bitcoin (BTC) has just reached a breakthrough price of 118,000 USD per coin, marking a significant advancement in the cryptocurrency market.
The price of Bitcoin is currently trading at around 118,000 USD, showing a slight decline of 0.21% in a day, reflecting the typical volatility of the cryptocurrency market.
MAIN CONTENT
Bitcoin has just established a price of 118,000 USD per coin.
BTC's price has slightly decreased by 0.21% in the latest trading session.
Price volatility shows the sensitivity of the cryptocurrency market.
How did Bitcoin reach the price of 118,000 USD?
Bitcoin surpassing 118,000 USD reflects the positive development momentum of the world's number one cryptocurrency.
The establishment of this price level by BTC shows the strength and confidence of investors in the cryptocurrency market. This is a rare high price, usually seen only in hot market growth phases.
This event continues to reinforce Bitcoin's position as a leading store of value asset, despite short-term volatility.
What is the impact of a price change of 0.21% on the Bitcoin market and investors?
A slight decline of 0.21% in a day demonstrates Bitcoin's liquidity and sensitivity to market factors.
Despite a slight price correction, this level of volatility does not detract from Bitcoin's long-term growth trend. Investors should closely monitor technical indicators and related news to manage risks effectively.
Frequent volatility is normal in the cryptocurrency market due to high liquidity and investor sentiment being easily influenced.
Bitcoin continues to assert its central role in the cryptocurrency ecosystem, with the price reaching 118,000 USD reinforcing confidence in the long-term profitability of this digital asset.
Financial expert Nguyen Van Nam, 2024
What momentum has driven Bitcoin's price to 118,000 USD?
The price increase of Bitcoin is often driven by various factors from fundamental to technical, especially storage demand and significant interest from institutional investors.
The gradual reduction in supply through halving and abundant liquidity in the market facilitate Bitcoin's price increase. Additionally, macroeconomic factors such as inflation also contribute to the demand for Bitcoin as an inflation hedge.
The recognition of Bitcoin by large organizations enhances its reliability and practical value in the market.
What factors should be monitored to forecast Bitcoin's next volatility?
Investors should pay attention to macroeconomic news, monetary policy, and events in the cryptocurrency market to orient their Bitcoin trading.
Technical indicators such as trading volume, RSI, and MACD are also important tools that support forecasting Bitcoin's price trend in the short and medium term.
In particular, halving events or new regulatory measures could significantly impact BTC's price in the near future.
Frequently Asked Questions
Can Bitcoin sustain a price level of 118,000 USD in the long term?
Bitcoin's price often experiences high volatility; however, the level of 118,000 USD is a positive sign reflecting investor confidence and the long-term growth prospects that have been reinforced.
Does a decrease of 0.21% in a day affect the trend of Bitcoin?
This slight volatility is within the expected correction range and does not change the overall upward price trend of Bitcoin.
What are the main factors driving the recent price increase of Bitcoin?
Supply reduction through halving, increased storage demand, along with interest from institutional investors are the main drivers.
How to effectively track Bitcoin price movements?
Monitoring technical indicators, macroeconomic news, and cryptocurrency market events helps investors timely capture price movements.
What does Bitcoin reaching this price mean for the cryptocurrency market?
This is a positive signal reinforcing Bitcoin's position as a store of value and a driving force for the overall development of the cryptocurrency industry.
Source: https://tintucbitcoin.com/bitcoin-len-tren-118-000-usd-nhe-giam/
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