Bitcoin broke the record for daily value growth

On Wednesday, February 28, bitcoin BTC $56,459.08 Bitcoin -3.08% Market capitalization $1.11 trillion VOL. 24 hours $4.5 billion rose by 9.5%, recording the largest one-day percentage gain since October 23, according to data from the analytical platform TradingView. On several exchanges, prices rose to $ 64,000, reaching the highest level since November 2021.

«Our analysis predicts that the conservative price target [вартості біткоїна] of $ 100,000-$ 120,000 will be reached by Q4 2024, with the cycle peaking sometime in 2025 in terms of the total cryptocurrency market capitalization,» analysts at Bitfinex cryptocurrency exchange said. This means that demand comes from investors who are mostly price agnostic. They see bitcoin as a store of value rather than a tradable volatile asset, as it was for several years before the introduction of ETFs."

Earlier this week, technical analysis expert Peter Brandt said that bitcoin could peak at $ 200,000 by September 2025.

«As the price has risen above the upper boundary of the 15-month channel, the target for the current bull market cycle, which is due to end in August-September 2025, is raised from $ 120,000 to $ 200,000,» Brandt said on the X platform.

The crypto expert believes that the bullish outlook will remain relevant as long as prices exceed last week’s low, when bitcoin was fixed at $ 50,500.

At the time of writing, the flagship crypto asset is trading at $ 62,737 with a market capitalization of $ 1.2 trillion. Traders have made daily trading deals worth $ 95.6 billion. Bitcoin’s market share increased to 53.2%.