Bitcoin Hits New High of $73,000: Why is BTC Rising Today?
Bitcoin (BTC) has had an astronomical yr thus far in 2024. After reclaiming the earlier all-time excessive of $69,044 final week, the unique cryptocurrency has hit one other new all-time excessive in the present day, breaching the $73,000 mark. BTC at present sits at $73,181.50, rising 1.7% within the every day charts, 9.8% within the weekly charts, 25.7% within the 14-day charts, and greater than 51% over the earlier month. Furthermore, BTC’s value has risen by 227.7% since March 2023.
![](https://watcher.guru/news/wp-content/uploads/2024/03/Screenshot-2024-03-13-at-1.49.37-PM-1024x619.jpg)
![](https://watcher.guru/news/wp-content/uploads/2024/03/Screenshot-2024-03-13-at-1.49.37-PM-1024x619.jpg)
Bitcoin’s (BTC) rally earlier this month was seemingly attributable to elevated inflows into spot BTC ETF (Change Traded Fund) merchandise. The US SEC (Securities and Change Fee) made a historic transfer and accredited 11 spot BTC ETFs in January this yr.
Nonetheless, the newest value spike might be a mixture of spot BTC ETF inflows and the anticipation of one other bull run fuelled by BTC’s halving occasion in April. Many analysts think about halvings bullish as they scale back the asset’s provide.
How excessive can Bitcoin (BTC) go?
![bitcoin btc moon](https://watcher.guru/news/wp-content/uploads/2024/03/bitcoin-btc-moon-1024x585.jpg)
![bitcoin btc moon](https://watcher.guru/news/wp-content/uploads/2024/03/bitcoin-btc-moon-1024x585.jpg)
In response to CoinCodex, BTC will proceed buying and selling round $73,000 for the remainder of this month, hitting $73,134 on Mar. 31, 2024. Nonetheless, the platform anticipates BTC to breach the $90,000 mark in early April, hitting $91,808 on Apr. 10, 2024. Hitting $91,808 from present ranges would translate to a development of about 25.4%.
![](https://watcher.guru/news/wp-content/uploads/2024/03/Screenshot-2024-03-13-at-1.55.13-PM-1024x379.png)
In response to Changelly, BTC will proceed its bullish trajectory in April. The platform anticiptes BTC to hit $74,588 by the top of this month, and hit $92,995 by Apr. 10, 2024. Furthermore, Changelly expects BTC to breach the $100,000 degree in 2024, hitting a most value of $113,151.68 this yr. Reaching $113,151.68 from present ranges would translate to a development of about 54.6%.