Bitcoin reached "unbelievable" levels since 2021.

CNBC, citing data from CoinMarketCap, reports that the price of Bitcoin has been steadily rising. As of the evening of February 14th, the world's largest cryptocurrency was trading around $51,800, up 21% from the previous seven days.

"This has pushed Bitcoin's market capitalization past $1 trillion. The last time this cryptocurrency reached a market capitalization above $1 trillion was at the end of 2021," CNBC reported.

The effect from Bitcoin also pulled the entire cryptocurrency market into positive territory throughout the past week. Photo: CNBC

The effect from Bitcoin also pulled the entire cryptocurrency market into a "green" trend, with Ethereum rising to $2,765, Solana reaching $117, and BNB reaching $333.

Statistics show that Bitcoin increased in value by 150% in 2023. Since the beginning of 2024, the world's largest cryptocurrency has continued to increase in value by 21%.

"The main driver behind Bitcoin's strong growth comes from the approval of a Bitcoin ETF," CNBC explains.

Many experts also predict that the price of Bitcoin will continue to rise this year.

This prediction comes as Bitcoin is about to enter its "halving" phase. When the halving occurs, the reward for Bitcoin miners will be halved.

This happens every four years, contributing to Bitcoin's deflationary trend.

In previous cycles, the Bitcoin "halving" process typically occurred one year before the bull cycle.

"The next Bitcoin 'halving' event is expected to happen in April," CNBC quoted cryptocurrency experts as saying.

Source: https://nld.com.vn/bitcoin-dat-muc-khong-tuong-ke-tu-nam-2021-196240215141439602.htm