From Nasdaq:

Bitcoin prices soared to over $49,000 per token on January 11, following the SEC’s approval of spot Bitcoin ETF products. However, prices fell after trading began, reaching just below $40,000 on January 24. Despite this, hopes of a bull trend remain as Bitcoin reached over $52,000 on February 19. (1)

Spot Bitcoin has experienced significant fluctuations, with prices having surged by 153% in 2023, ending at $41,945.15 on December 29, 2023. As of February 19, the cryptocurrency is still 24.5% higher in 2024. (2)

The price of Bitcoin has continued to reach new highs, with expectations of surpassing the November 2021 record peak of $68,906.48. Meanwhile, the approval of spot Bitcoin ETF products has broadened the cryptocurrency’s market, allowing easier access for investors. (3)

Despite the value of Bitcoin standing at over $1 trillion, it remains below that of leading US companies like Microsoft, Apple, and other tech giants. However, its potential as a global currency instrument is significant, fueling the expectation for further increases in value. (4)

As Bitcoin rises in value, concerns have been raised regarding potential systemic risks given its growing market cap. Previous warnings from U.S. legislators and the qualified approval of Bitcoin ETFs demonstrate a need for monitoring the asset class’s market cap in the future. (5)

Investors are advised to exercise caution and only invest what they can afford to lose in the volatile cryptocurrency market. While there’s potential for massive profits, the risks are equally high, making it crucial to enter risk positions with clear risk-reward dynamics and discipline. (6)



Read more: Is Bitcoin Heading for a New Record High?