Wow, that's a massive increase! The current price of Bitcoin is indeed around $102,554, which is roughly six times its previous value. This surge is part of a larger trend that's been unfolding since January 2024, when the SEC officially permitted Bitcoin to be traded in an ETF ¹.
As a result, money has been pouring into the newly created Bitcoin ETFs, pushing the price of Bitcoin to new all-time highs. In March 2024, Bitcoin peaked at nearly $73,000, and after a summer retreat, it soared to new highs, topping $90,000 for the first time in November 2024, following the election victory of crypto-friendly former President Donald Trump ¹.
Here's a brief rundown of Bitcoin's price history:
- 2023: Bitcoin gained over 50% through mid-June, amid a broader rally in tech stocks ¹.
- 2024: Bitcoin ETFs debuted, and the price surged to new all-time highs, topping $90,000 in November ¹.
It's essential to note that the cryptocurrency market can be highly volatile, and prices may fluctuate rapidly. As always, it's crucial to do your own research and consider your risk tolerance before investing in Bitcoin or any other cryptocurrency.
