Bitcoin price gains: On the way to the next record high?

Bitcoin price gains: On the way to the next record high?

Bitcoin has recorded almost 2 percent price gains in the last 24 hours, indicating a significant increase in value. This positive development is also reflected in a stable daily chart, which indicates consolidation in the existing price range. While Bitcoin is in a sideways movement and has cut losses, investors are speculating about the possibility of a new uptrend, supported by the recently completed fourth Bitcoin halving.

The recent halving reduced the reward for miners to 3,125 BTC and aims to limit inflation and increase the value of Bitcoin. With around 19.7 million Bitcoins in circulation and a set cap of 21 million, this highlights the cryptocurrency's scarcity. Investors and miners are adapting their strategies to benefit from this change and prepare for the next halving in 2028.

Crypto traders like Moustac are predicting key interim targets for the Bitcoin price between $80,000 and $85,000. Since 2022, they have continuously focused on this goal and emphasize that it is just a milestone on the way to higher prices. Other traders like StockMoneyL are also optimistic about the development and point to critical resistance points that need to be overcome to maintain the positive momentum.

Looking at Bitcoin's negative funding rates signals strong buying interest and can be an indicator of an impending bullish trend. In a positive market environment, such signals could indicate an imminent upward movement.

Bitcoin remains a fundamental investment for 2024 and beyond. Cryptocurrency specialist 99Bitcoins could also benefit from a Bitcoin all-time high by embracing the learn-to-earn trend. With a strong online community and interactive learning modules, 99Bitcoins is ideally positioned to benefit from rising prices and increasing market activity.