Bitcoin hits an all-time high of $71.8k and is heading toward the $80,000 level.

By Crypto Gloom On Mar 11, 2024

Lastly, all Bitcoin holders are benefiting from the current trading price level and investors are waiting for new heights to enjoy this bull market.

The current trading price of Bitcoin (BTC) is $71,664 and it is up 2.7% over the last 24 hours.

Already, a well-known cryptocurrency analyst has shared his prediction for Bitcoin’s next price level, mentioning that $74,000 is the next resistance level.

Many cryptocurrency analysts have pointed out that Bitcoin is perfectly following the Bitcoin halving pattern before past halvings. This is a very big sign that Bitcoin will reach very large levels in the next 12 months, although some technical analysts have claimed that they did not expect such a high rally.

Competition for Bitcoin net purchases among large companies continues to increase thanks to Bitcoin spot ETF applications that provide the best way to buy Bitcoin without worrying about money management.

MSTR owns 193,000 shares. #Bitcoin
Blackrock owns 191.2k Bitcoin.

After today, Blackrock is expected to pass Microstrategy on its Bitcoin ownership.

While it took Microstrategy 3.5 years to achieve this, Blackrock achieved it in less than two months.

— Alessandro Ottaviani (@AlexOttaBTC) March 8, 2024

Amid this upward trend, the trading price of Ethereum (ETH) also exceeded the $4,000 level, but as of now, the trading price of ETH has fallen by $800 from its all-time high (ATH).

#altcoin #Ethereum We just hit $4,000! 🔥🚀

finally #ETH December 2021 was at that level.

Congratulations to those who entered as newbies at the time and confidently dominated the entire bear market.

The closing price of the weekly candle is very bullish.
🎯 $4,185 is… pic.twitter.com/z0gylpbx9u

— Cryptocurrency Titan (@Washigorira) March 11, 2024

bitcoin halving

There are about 35 days left until the Bitcoin halving event. After that, the Bitcoin reward per block decreases from 6.25 BTC to 3.125 BTC.

After the halving, Bitcoin’s trading price is expected to explode exponentially by up to 100%. This means that the transaction price will exceed the $120,000 level within the next 12 months.

Also read: “Crypto Network Fork” is a solution to the misuse of quantum computers, says Vitalik Buterin.

Bitcoin trader and investor since 2013. I love sharing valuable information with people who don’t believe in blockchain technology and underlying cryptocurrencies.