$69,000։ Bitcoin price reaches all-time high

Bitcoin exchange rate has surpassed its all-time high: on Tuesday, the bitcoin price reached up to 69,000. Before that, the price of this cryptocurrency had risen several times, but had not reached its maximum.

Immediately after reaching the maximum value, short-term investors and those who bought Bitcoin in 2021 at $69,000 and were waiting for the opportunity to return the invested funds began to take their profits.

As a result, this was followed by a major correction, during which the Bitcoin exchange rate had already fallen to $60,500 by late Tuesday. Then the price started to rise to about $63,500.

Experts make different predictions. Some believe that the rate will continue to grow and set new records, others are confident that the price is expected to drop to $50-55,000 before the new race.

Last week, Bitcoin rose to $64,000 before briefly dropping to $58,500. However, against the background of deflation, large investors started buying bitcoin; as a result, it stabilized around $62,000 and maintained that price for several days.

Ben Laidler, Global Markets Strategist at retail investment platform eToro, explained that the continued financial flows into new ETFs and expectations of the April halving and June Federal Reserve interest rate cut are contributing to the rise in the price of Bitcoin.