Summary
TLDR: Bitcoin’s price reached over $63,000 before dropping to $59,557, still close to its all-time high. The rise was fueled by the approval of spot Bitcoin ETFs and the upcoming halving. Skybridge founder predicts Bitcoin could quadruple in price past $200,000 after the halving, while JP Morgan CEO Jamie Dimon warns against focusing too much on short-term economic indicators.
Key Points
1. Bitcoin’s price reached a high of $63,636 before dropping to $59,557 on Wednesday, still remaining 12% below its all-time high of $69,044.
2. Bitcoin’s price surge leading up to $60,000 began earlier in the week, starting at $50,926 and climbing steadily to $56,737 before crossing $63,000 on Wednesday.
3. The approval of spot Bitcoin ETFs by the U.S. Securities and Exchange Commission, along with the upcoming Bitcoin halving, has attracted a new wave of investors, causing Bitcoin’s price to soar and predictions of it reaching over $200,000 after the halving.