Bitcoin has just experienced one of the best months in terms of growth in its entire history. In February alone, the price of BTC increased by over 43%, thus achieving the highest volatility considering the price range, not just the percentage change. Consequently, Bitcoin has recorded its 6th consecutive month of growth. It should be noted that there has never been a streak of 7 consecutive months of growth. This means that if March ends in the green, it will be a record-breaking uninterrupted bullish streak.
Such positive sentiment is possible thanks to the growing interest of institutions in this asset and the introduction of ETFs. At the time of publication, we are still 47 days before the halving, and the price of Bitcoin is just about 6% off its all-time high. Below are some important highlights from the past few days:
- Bitwise CIO predicts Bitcoin could hit $100K-$200K+ in 2024, citing high demand and limited supply.
- BlackRock launches Spot Bitcoin ETF in Brazil after its US success, expanding Bitcoin investment options.
- BlackRock's Spot Bitcoin ETF hits $10B in assets, becoming the fastest ETF to reach this milestone and boosting BTC to $63K.
- Morgan Stanley explores adding a Spot Bitcoin ETF to its offerings, eyeing entry into the ETF market post-SEC approval.
- MicroStrategy's Bitcoin holdings reach $12.24B value as BTC surpasses $60,000, marking the firm's highest portfolio value.
- White House claims Bitcoin mining strains power grid during price surge, sparking fears of increased industry regulation.
- JPMorgan shifts stance on crypto, predicting sustained improvement in prices amid Bitcoin's rally, contrasting CEO Jamie Dimon's skepticism.
Looking at the chart, Bitcoin is noting dynamic increases, which have currently slowed down around the all-time high. For several sessions, we have been observing consolidation above the USD 60,000 mark. Today, the price of BTC is recording a 1.5% increase above the USD 64,000 level.
Source: xStation 5
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