Bitcoin, the world’s first and largest cryptocurrency, recently exceeded $45,000, reaching a milestone not observed since April 2022, signaling a market rebound.
On January 2, 2024, Bitcoin’s price reached $45,800, according to data from CoinMarketCap. Throughout 2023, Bitcoin maintained a value below $44,300, making the attainment of $45,000 in the early days of 2024 a notable accomplishment tied to the previous year.
While this achievement falls short of the all-time high recorded in November 2021 at $64,455, industry observers attribute the recent price surge to the impending Securities and Exchange Commission (SEC) verdict on Bitcoin Exchange-traded funds (ETFs), scheduled for January 10, 2024.
Analysts expressed optimism for Bitcoin’s performance in 2024, forecasting a potential surge to $160,000. Their predictions hinge on increased U.S. investor interest, driven by the availability of new spot ETFs and the impending halving event that will curtail the supply of new coins.
In addition to the positive market outlook, Bitcoin-based NFTs have also achieved remarkable results, concluding 2023 with record-breaking sales surpassing $881 million.
