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Bitcoin News

Bitcoin Just Broke Its All-Time High Price: What’s Next?

Author

Jay Solano

Tags

Tags Editor's Choice / Slider Posts

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Editor's Choice / Slider Posts

Category

Bitcoin News

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Editor's Choice, Slider Posts

Reading time

2 mins
Last update


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Key Takeaways

  • Bitcoin (BTC) has surged to over $69,000, breaking its previous all-time high since late 2021.
  • Looking back at previous bull markets, Bitcoin took three years to surpass the $20,000 milestone reached in December 2017. It achieved this again in December 2020, followed by a steady ascent to its peak of around $42,000 in January 2021.
  • Major altcoins like Ethereum (ETH) and XRP (XRP) are expected to benefit from Bitcoin’s success, with speculation focusing on the potential for exchange-traded funds (ETFs) for these coins.

There is currently a lot of excitement in the crypto markets this week as Bitcoin (BTC), the leading cryptocurrency, has been on a massive rally, reaching over $69,000 for the first time since late 2021, breaking its all-time high price record. Let us take a look at previous bull markets to get a sense of what might come in the next few weeks.

Crypto Bull Market Historical Data

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If you rewind back to 2020, the peak price remained at approximately $20,000, a milestone reached in December 2017. It actually took Bitcoin three years to surpass this barrier, achieving it once again in December 2020.

Following this, Bitcoin experienced a steady ascent over the next four weeks, ultimately reaching its peak at around $42,000 in January 2021, more than doubling the previous record.

What About Altcoins?

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Major altcoins such as Ethereum (ETH) and XRP are expected to be the biggest immediate beneficiaries of Bitcoin’s success because much of the speculation has now shifted toward exchange-traded fund (ETF) possibilities for both of these coins.

Final Thoughts

Over the last nine years, Bitcoin has hit all-time highs 148 times, and it has continued going upwards after that 4 out of 5 times. We will see if the crypto market keeps rising after this week, but 80% of the odds are about as good as you will get in crypto investing. Of course, let us not forget that it is not a guarantee.