[2024-03-08] CNBC: Bitcoin breaks $70,000 in volatile trading, hitting a new...

[pawel7777]

As expected, the new ATH means more mainstream media press hits. Here's one from today from CNBC:

Bitcoin breaks $70,000 in volatile trading, hitting a new record to end the week

https://www.cnbc.com/2024/03/08/bitcoin-breaks-70000-in-volatile-trading-hitting-a-new-record-.html

The price of bitcoin jumped to a new record on Friday, breaking through $70,000 for the first time ever.

The cryptocurrency was last higher by about 2% at $69,304.84, according to Coin Metrics. At one point, however, it rose as high as $70,170.00, topping its previous record set on Tuesday. It’s on pace to end the week higher by 10%.

The up move began around the time the U.S. stock market opened. With the introduction of spot bitcoin exchange-traded funds in the U.S., big crypto moves now tend to take place during traditional stock trading hours.

The early advance may have been driven in part by investors who were weighing the February jobs report, hopeful that a higher unemployment rate and cooler than initially reported employment growth in December and January will clear the way for the Federal Reserve to begin cutting interest rates later this year.
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[Argoo]

Just a few months ago, I believed that the price of Bitcoin could rise to a new ATN only after a certain period of time after the halving, as was the case in previous cases. But Bitcoin still springs surprises from time to time. But I think that after this there will be a decent correction, since it has been growing in price for a very long time, approximately since October last year. The current situation with Bitcoin reaching a new price record has definitely been influenced by the approval of Bitcoin spot ETFs for trading. But according to forecasts, it is unlikely that its price will continue to grow at the same pace.

[Valkyre]

I think the 70k was just a small spike. It will certainly go up to 100k in April or May. The halving will make it possible