BTC holders smile sweetly after the price surged to a new all-time high of more than 2.5 million baht on the Bitcube exchange Other cryptocurrencies also reap the benefits.
On March 11, 2024, it is said to be a trend in the social world. And fueling public interest in digital assets, it was reported that the price of Bitcoin or BTC hit a new high of 2,500,000 baht today (March 11), which is considered a new all-time high. After making a high of 2,458,000 baht on March 4, 2024, Bitcoin price is considered a new high due to the past. It had never reached a new high before the Bitcoin halving event.
Glassnode's data shows that $48.54 billion worth of money has flowed into the digital asset market. This is the largest amount since October 2021. Trading volume of spot bitcoin ETFs in the US is expected to rise to $7.69 billion. This, with retail investors eager to buy Bitcoin accumulated before the Bitcoin halving, will continue to push the price higher.
In addition, data from the Bitcube exchange trading board on March 5 showed that the proportion of people who could profit from the increase in the price of Bitcoin during this period was 99%, and the correction was high. Bitcoin's price has soared past Bitcoin's market capitalization (market cap) of $1.31 trillion.
Bitcoin is considered the most valuable company in the world, overtaking Facebook owner Meta with a market value of $1.28 trillion and making it into the top 9 most valuable companies in the world. (Based on information from CompanyMarketCap : March 5, 2024)
As for the prices of other cryptocurrencies, both have benefited from increases in the price of Bitcoin, such as the price of Ethereum or ETH. The second-highest cryptocurrency by market capitalization gained 19% on a weekly basis since February 27. – March 5, 2024 reached a high of 134,200 Baht, an important update such as Denken is expected to happen soon, while Solana Synv SOL managed to increase by 26% in weekly overview. And reached an all-time high of 4,847.06 baht on the Bitcube exchange trading board.
Reference: Bitkub blog
“Avid gamer. Social media geek. Proud troublemaker. Thinker. Travel fan. Problem solver.”