Bitcoin reaches a historic high in value recorded in a month

The value of the bitcoin cryptocurrency reached a monthly high of $ 71,285 on the Bitstamp exchange. Experts called it a historic event, as the market leader managed to close above the previous cycle peak for the first time.

Over the past 24 hours, there has been relatively little volatility, with $ 114 million worth of long and short positions being liquidated. Most of the liquidations were made on short positions worth $ 74 million.

Bitcoin has already managed to record seven consecutive months of growth. This is the longest streak in the history of the cryptocurrency. It is noteworthy that the only time BTC $62,283.94 Bitcoin -1.92% Market capitalization $1.23 trillion VOL. 24 hours $1.25 billion achieved such a result was back in 2012 (from March to September).

Since September 2023, the most popular cryptocurrency has grown by a whopping 175%. For comparison, between October 2021 and March 2021, the cryptocurrency recorded six green months in a row.

According to bitcoin evangelist Alessandro Ottaviani, the approval of several bitcoin exchange-traded funds earlier this year could be the beginning of the second era of bitcoin.

Hedge fund manager Mark Yusko recently predicted that the price of the largest cryptocurrency could potentially soar to $ 150,000 this year. He called the upcoming halving event the main catalyst that will trigger massive growth. Mike Novogratz of Galaxy Digital also believes that bitcoin will break the $ 100,000 barrier this year.