Will Bitcoin Break the $60,000 Mark in the Near Future?

In early 2021, Bitcoin surpassed $50,000 per coin for the first time, experiencing a significant surge after falling about 75% from its all-time high in 2022. On Feb. 12, 2024, Bitcoin once again crossed the $50,000 mark, indicating a rapid rise with an increase of more than 130% over the past year and over 20% in the past month. With the recent approval and trading of the first 11 Bitcoin spot ETFs, along with increasing institutional adoption and well-funded cryptocurrency companies holding significant amounts of Bitcoin, there is high demand for the cryptocurrency. Additionally, the upcoming Bitcoin halving event, reducing the ongoing supply, is expected to further drive the price surge. While investors may have incentives to sell given the current high profitability, many are likely to hold onto their Bitcoin, anticipating even higher profits in the future. Despite potential risks and uncertainties, the overall sentiment suggests a strong year ahead for Bitcoin in 2024.