The price of Bitcoin continues to surge, with spot Bitcoin ETFs in the rearview mirror and the halving coming in April. Renewed euphoria has swirled as the price of Bitcoin skyrocketed to $64,000 on Wednesday.
“Fourth Bitcoin bull market, and this all feels very different,” prominent Bitcoin podcast host Peter McCormack said on Twitter.
Fourth #bitcoin bull market and this all feels very different.
Lessons from the others: - 2013 spent all my #bitcoin and traded CFDs. Ended 2013 with 0 #bitcoin. - 2017 bought #bitcoin and traded shitcoins, ended up losing 90% of my stack. - 2021 built businesses and stacked…
While $64,000 is impressive, however, the notoriously volatile digital asset has seen much more significant single-day gains in the past. Here are the top five biggest single-day gains in Bitcoin’s history, according to CoinMarketCap.
April 2013
The price of Bitcoin jumped 42% from a low of $98.20 to a high of $150.85 on April 12, 2013, after falling from a high for the month of $232.11 the day before.
November 2013
Bitcoin again jumped another 42% on November 18, 2013, jumping from a low of $494.94 to a staggering $712.76. The bullish market sentiment reflected growing real-world interest in Bitcoin as the first Bitcoin ATMs began rolling out worldwide.
December 2017
The price of Bitcoin rose 27% from $14,057 to $17,899 at the end of 2017, at the time its most significant all-time high. Leading the surge was news that both the Chicago Board Options Exchange (CBOE) and the Chicago Mercantile Exchange (CME) launched Bitcoin futures trading, allowing institutional investors to gain exposure to Bitcoin.
The percentage of bitcoin transactions using Segregated Witness (SegWit)—which make bitcoin transactions faster and cheaper—hit an all-time high of 49 percent this week. This is a good sign for fans of making bitcoin friendlier–and cheaper–to use.
SegWit adoption allows Bitcoin blocks, which are typically limited to 1 MB, to expand, if necessary, to 4 MB. This allows more transactions to be placed in a block, increasing the number of transactions that can be processed per second by the network....
Where are we today?
With Bitcoin closing on its all-time high of $69,000, sentiment around Bitcoin is buoyant with an 80 or Extreme Greed rating on the Crypto Fear & Greed Index.
Speculators expect a massive windfall for Bitcoin with the next Bitcoin halving fast approaching. On Tuesday, Skybridge co-founder Anthony Scaramucci suggested the price of Bitcoin could quadruple after the every-four-year milestone.
Adding to this frenzy are the Bitcoin ETFs, where financial institutions are snatching up Bitcoin to satisfy customer demand. For example, Blackrock’s iShares Bitcoin Trust currently holds 130,231 BTC around $7.9 billion. Grayscale Bitcoin trust now holds a whopping 466,534 BTC worth around $28.7 billion.
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Bitcoin Bull Run
A continuously updated selection of stories explaining the price movements of Bitcoin, Ethereum and other major cryptocurrencies during the current bull run.
Bitcoin today hit $39,000 per coin for the first time since a brutal digital asset crash in May 2022 that brought with it a long and painful bear market.
The virtual coin has since made a terrific comeback: at the start of January, it was trading for less than $17,000 per coin; it is now up 128%.
Could this mean we’re seeing the beginning of a bull run? Some experts say it’s only up from here.
A lot has happened in the crypto space since blockchain project Terra collapsed last year, leading...
In a move that surprised some experts, Invesco Ltd, an investment management company with $1.3 trillion in assets under management, decided not to immediately pursue its Bitcoin futures application.
“We have determined not to pursue the launch of a Bitcoin futures ETF in the immediate near-term,” an Invesco spokesperson told Bloomberg.
The firm added that it will carry on with its Galaxy Digital partnership to offer investors a “full shelf of products” with exposure to digital assets, including...
Canadian investor Kevin O'Leary, better known as "Mr. Wonderful" on the investment pitch series "Shark Tank," is personally investing in Bitcoin. But he doesn't think institutional investors like mutual funds and insurers are, despite what others say.
"You bring on guests all the time that say, 'Oh, institutions are getting into Bitcoin.' That's BS," he told Oliver Renick of the TD Ameritrade Network today. "They are not yet. There is no institution out there, any sovereign or pension plan, that...
