Today, Bitcoin, the world's largest cryptocurrency, reached a new all-time high price. The value hit $88,378, surprising even experienced traders.
New Bitcoin Price Record
At the time of writing, the BTC price is trading at $88,000. The increase in the last 24 hours has reached almost 10%.
Cryptocurrency Market Volatility
Due to market volatility, there were massive liquidations in both long and short positions in the cryptocurrency market. In the last 24 hours, there was a liquidation of $571 million in the entire cryptocurrency market, of which $206 million was in long positions and $365 million was in short positions.
Analysts' Predictions
One of the most well-known analysts in the market, Rekt Capital, shared details about what they expected after the records. According to the analyst, if the BTC price repeats its record pattern from 2020, the BTC price could reach $96,500 by the end of this year. Rekt Capital also evaluated the rise wave of BTC, which traditionally comes after a halving, according to the current bull rally. The analyst noted that traditionally the post-halving rise comes after approximately 214 days, while in the current case, approximately 205 days have passed.
Thus, the continuing rise in Bitcoin's price draws interest from analysts and traders, while the market remains subject to significant fluctuations.
