Bitcoin has surged above $69,000 and reached its highest level since October 21. The bullish golden cross pattern formed on its daily chart has contributed to this uptrend. The shares of major cryptocurrency-related companies, including Coinbase and Riot Platforms, have also experienced gains. CryptoQuant reveals that cryptocurrency miners are betting on a Bitcoin price spike. Despite a 9% increase this month, Bitcoin has not yet surpassed the $70,000 resistance level. Matthew Sigel from VanEck predicts that Bitcoin could potentially reach $3 million by 2050 if it becomes a reserve asset and is adopted by global central banks. The recent price rally is attributed to re-accelerating money growth. Bitcoin dominance has now reached 60%, its highest level since early 2021.



Other News from Today