From Investing.com:

Bitcoin’s price continues to rise in March, consistent with historical trends before the halving event. It recently reached $73,000 before dropping to $67,500. Year-to-date increase is over 60%, with a 150% jump in 12 months.

The surge in Bitcoin price is fueled by demand for spot Bitcoin ETFs, offering a safer way to invest. These ETFs attract traditional investors by providing direct exposure to Bitcoin, managed by firms holding Bitcoin shares.

Another factor driving Bitcoin prices up is the upcoming halving event in 2024, expected to follow historical trends and increase prices. Factors like Generation Z involvement and government adoption of blockchain technology also contribute to the rally.

Analysts predict Bitcoin prices may exceed $200,000 by 2025 due to ETF inflows and continued growth. Standard Chartered raised its price target to $150,000 from $100,000, with a potential overshoot to $250,000 if ETF inflows and reserve manager investments continue.



Read more at Investing.com: Standard Chartered says $150,000 level in 2024 ‘now looks likely’ By Investing.com