News - Cryptomarket on the rise: Bitcoin on its way to a new all-time high

By Ted Maas

Cryptomarket on the rise: Bitcoin on its way to a new all-time high

Green numbers wherever you look: The crypto market is on the rise again and Bitcoin is nearing its latest all-time high.

A good day for Bitcoin: the crypto market is moving up again today, March 26, 2024. Last week, prices fell, in some cases by 10 to 20 percent. Today, the entire crypto market is up about five percent to a total market capitalization of nearly 2.6 trillion euros.

Bitcoin and Ethereum are up five percent.

Digital gold is trading at just under 65,500 euros just ahead of its latest all-time high. Ethereum is trading at nearly 3,400 euros. Altcoins such as Aptos, NEAR and ICP are up 10 percent. The top memecoins are quiet, with gains of up to 10 percent, such as Bonk. The best performing in the top 100 is Fetch.AI, one of the AI cryptocoins.

There are many reasons for the current surge: last week, BlackRock launched its first fund for real world assets on Ethereum. New Bitcoin ETFs are also delivering strong performance. Eleven applications were approved in January 2024, including one from BlackRock. The world's largest asset manager is buying Bitcoin in record amounts.

A halving is also expected in less than a month. Every four years, the rewards miners receive for mining Bitcoin are halved. In the past, almost every halving has correlated with a sharp rise in the price of Bitcoin, usually a few months later. Bitcoin closed February 2024 with the strongest price gain ever.

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