Bitcoin Price Rises Almost 50% in 2 Months

Since the beginning of 2024, the price of Bitcoin has seen a 45% increase. This week, it surpassed the $60,000 mark for the first time since November 2021.

On the night of Thursday, February 29, the BTC rate on the Bitstamp exchange reached $60,169, bouncing back from a sharp decline the previous night.

Bitcoin briefly hit $64,000 on Wednesday before dropping back down as traders took profits. According to Antoni Trenchev, co-founder of Nexo exchange, resistance will likely intensify as Bitcoin approaches $69,000.

Investor sentiment was boosted by the break above $60,000, with retail traders expected to be the main participants in the surge.

JPMorgan Bank also recently reported a resurgence of interest in the cryptocurrency market among small investors. Zach Pandl, head of research at Grayscale Investments, foresees increased demand for BTC after the upcoming halving, which will decrease the supply of cryptocurrency on exchanges.