The price is close to the all-time high of $123,000 that the cryptocurrency reached in mid-July.
Bitcoin price approaches historic peak (Photo: The Anh).
“Bitcoin is benefiting from a number of favorable factors, including increased institutional demand and support from President Donald Trump,” said market analyst Tony Sycamore at IG.
Bitcoin's continued rise above the $120,000 price point shows the convergence of three core factors, including political recognition, acceptance by major financial institutions, and a favorable macroeconomic backdrop.
“In today’s asset allocation landscape, Bitcoin is no longer a purely speculative instrument. It is on the border between digital hedges like gold and growth assets like tech stocks,” said Pepperstone strategist Dilin Wu.
The strong growth of Bitcoin also brought the value of the entire cryptocurrency market to over 4,000 billion USD. A series of altcoins such as Ethereum, Solana, XRP, BNB,... also had strong growth.
Amidst the continued surge in Bitcoin prices, many have suggested that Bitcoin's four-year cycle may have been broken.
Among them, ETFs are seen as an important factor in disrupting Bitcoin's 4-year rhythm. It attracts institutional investors who are interested in holding cryptocurrencies for the long term.
“As the market matures, long-term investors are accumulating at an all-time high and reducing volatility. The traditional four-year cycle may be replaced by behavior that is more sensitive to liquidity and macro correlations,” said Ryan Chow, co-founder of Solv Protocol.
Source: https://dantri.com.vn/cong-nghe/gia-bitcoin-tien-gan-muc-cao-nhat-moi-thoi-dai-20250811142423164.htm
Comment (0)