Bitcoin Breaks $68,000, Bullish Again, $100,000 Reached Soon?

Bittime - Bitcoin (BTC) showed its resilience amidstthe volatilityof the digital asset market by again reaching levels up to $68,000. This price increase was driven bybullishwhich has re-emerged among investors.

Bitcoin (BTC) Price Today

Source: CoinMarketCap

on Friday 8 March 2024, Bitcoin again showed positive price movements. According to data from CoinMarketCap, Bitcoin (BTC) is up 1.55 percent in the last 24 hours at $67,035.

Quoted from Coingape, the price of BTC rose 1.35% in the last 24 hours, after previously falling to $65,655.53. At the start of the week, BTC prices moved around $61,000.

Sustained buying momentum from spot Bitcoin ETF issuers, such as ProShares and Valkyrie, triggered a supply shortage and pushed BTC prices to an all-time high (ATH) of $69,170.63.

Check Today's Crypto Market:

Bitcoin ETF Factors

Even as attention shifts to price, the influence of spot Bitcoin ETFs remains a defining feature as they continue to shape institutional investor interest.

With consistent accumulation, Bitcoin supporters called the correction a healthy and necessary one to help revive the price of the flagship digital currency.

This bullish sentiment is driven by several factors

• Increasing institutional adoption: More institutions are starting to invest in Bitcoin, such as Tesla, MicroStrategy, and MassMutual.
• Infrastructure developments: The Bitcoin network continues to evolve with Layer 2 solutions such as the Lightning Network increasing scalability and transaction speed.
• Inflation: Bitcoin is seen as a hedge asset against rising fiat inflation.

However, investors still need to be careful because the crypto market is still relatively volatile.

Also Read How to Buy Crypto:

Technical Analysis

Technical analysts see several bullish indicators on the BTC chart, such as:

• Relative Strength Index (RSI): BTC's RSI has exited the oversold zone and is showing bullish momentum.
• Moving Average Convergence Divergence (MACD): MACD shows a bullish signal with the MACD line crossing the signal line.
• Trading volume: BTC trading volume is increasing, indicating high investor interest.

Other Factors Supporting Bitcoin's Bullish Sentiment

Apart from the factors mentioned above, there are several other factors that also support Bitcoin's bullish sentiment:

• Geopolitical uncertainty: Geopolitical tensions in Ukraine and Russia are driving investors to seek safe-haven assets, and Bitcoin is one of the top choices.
• Lowering interest rates: Central banks in some countries are starting to lower interest rates, which may encourage investors to seek out higher-risk assets such as Bitcoin.
• Regulatory developments: More countries are starting to clarify regulations regarding Bitcoin, which can increase investor confidence.

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Conclusion

Bitcoin's return to the $68,000 level is a positive signal for the crypto market. Resurgent bullish sentiment and positive infrastructure developments could push BTC prices even higher in the future.

Although Bitcoin has great potential, it is important for investors to understand the risks involved before investing.

Do your own research, diversify your portfolio, and use appropriate investment strategies to minimize risk.

How to Buy Bitcoin (BTC) on Bittime

You can buy and sell  Bitcoin (BTC)  in an easy and safe way via  Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Bitcoin (BTC)  is available on Bittime with  the market pair BTC/IDR . To be able to buy  BTC IDR  at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn  the complete guide on how to buy Bitcoin (BTC) on Bittime . 

Monitor price  chart movements  for Bitcoin (BTC ) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.