The cryptocurrency market is enjoying a significant boom, with Bitcoin (BTC) reaching a historic moment by reaching a new milestone of $64,000 ahead of its halving. Likewise, the altcoin sector is also seeing strong gains as Ethereum (ETH) rose to $3,500, achieving a long-awaited goal for investors. The surge has led analysts to predict record highs for a number of cryptocurrency assets. Meanwhile, traders are wondering which cryptocurrency will be the first to surpass previous highs in March.
Bitcoin (BTC)
Given that the Bitcoin halving event is scheduled to take place on April 20, many predict that Bitcoin could hit new all-time highs ahead of the halving. Bitcoin is currently up 47% since the beginning of February and looks set to end the month on a positive note.
Bitcoin price is currently down about 11% from its previous high of $69,000 reached in 2021. On Wednesday morning, the price of Bitcoin surpassed $63,000 for the first time since November 2021, thanks to increased trading volume on spot Bitcoin exchanges. -Trade funds (ETFs) for the week. top of form
Analysts note that Bitcoin is likely to retest its all-time high of $69,000 by early March as spot Bitcoin ETFs see record inflows and growing interest from institutional investors. If buying momentum remains strong, BTC price could be on track to hit new all-time highs in the coming weeks. It is important to note that Bitcoin has already broken the ATH for several fiat currencies.
Ethereum (ETH)
After Bitcoin rebounded towards $64,000, Ethereum (ETH) also increased significantly, reaching a high of $3,500 and is likely to mirror Bitcoin’s price movements in the coming weeks. Additionally, as mentioned in a recent blog post, the eagerly awaited Dencun upgrade is scheduled to go live on the Ethereum mainnet on March 13th at epoch 269568.
This update is set for 13:55 UTC or 8:55 AM ET. Ethereum’s potential to hit an all-time high of $4.9K is closely tied to Bitcoin hitting its own record high.
Solana (SUN)
Solana’s value has increased nearly 30% in the past 30 days, but remains 50% below the high of $260 it reached in 2021. As Ethereum approaches the $4,000 threshold, there is a possibility that Solana’s price will surpass $200.
If the overall cryptocurrency market cap maintains its bullish momentum, Solana’s price could hit a new all-time high in March.
Cardano (ADA)
If the Bitcoin price reaches or exceeds $69,000 in March, the Cardano price could potentially rise along with the expected rise in altcoin values. This month, Cardano’s price has already surged more than 30%, putting it close to its all-time high, and is currently about 80% off its all-time high of $3.10.
If the price of Bitcoin rises past previous all-time highs above $75,000, the Cardano price could exceed $3 in March.
Bonk and Pepe
Meme cryptocurrencies Bonk and Pepe experienced significant increases in February, posting gains of 98% and 182% respectively. Bonk is currently 29% off its all-time high (ATH) of $0.00003419, while Pepe Coin is 32% off its ATH of $0.000004354.
If the current market upward trend continues into March, both meme coins could potentially reach new ATHs.