Bitcoin reached a new all-time high of $118,856 on July 10, surpassing its previous peak of $111,560. With 94% of bitcoins already mined and supply increasingly scarce, institutional and sovereign demand is driving prices up. ETFs saw $4.6 billion in inflows in June, tightening supply further and pointing towards future price increases.

Despite fears of a bubble, Bitcoin’s current rally is supported by ETF demand, balance sheet strategies, and regulatory clarity. Institutional and sovereign buyers are entering the market, tightening supply and setting the stage for future price appreciation. Dollar-cost averaging can help investors navigate price fluctuations and capitalize on long-term gains.

While a price crash is possible, Bitcoin’s fundamentals remain strong due to tightening supply and increasing demand from various sectors. With a long-term investment horizon and strategic buying, investors can position themselves for potential profitability. The current record price may just be a stepping stone towards higher values in the future.

Read more at Nasdaq: Bitcoin Just Hit a New All-Time High. But Is the Leading Cryptocurrency a Buy?