Bitcoin (BTC) soared to an all-time high of $29,170 overnight on March 30. Even though the price pulled back shortly after, market participants were already calling this rise a “fakeout.” Since its listing nearly 11 years ago, Bitcoin has taken a significant load of FUD, but this has not stopped it from continuing to make all-time highs. As traders eagerly anticipated a possible bull run to reach the $30,000 mark, data on derivatives exchanges showed that shorts were currently in control. Despite some bearish concerns such as volumes dropping to their lowest since June 2020, analysts remain positive that the sky high price of BTC is here to stay. With a number of events including a host of institutional investors entering the Bitcoin market, the asset could potentially be headed for an all-time high of around $30,000. Furthermore, given the number of investments and developers who have their eyes fixed on the market, the digital asset can further expand its reach and increase its dominance in the cryptosphere.



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