t-48/>Bitcoin remains above $50,000 at the end of February. Analysts suggest that we are in a situation similar to the beginning of the 2021 bull market.

Last week, Bitcoin surpassed $50,000 for the first time since 2021. Such movements of the leading cryptocurrency cause a stir in the market.

The $50,000 threshold has been out of reach for Bitcoin for a long time. In 2022, the price fell to below $16,000. This happened in November, shortly after the bankruptcy of the FTX crypto exchange. Since then, the price has more than tripled.

In 2023 alone, Bitcoin increased in price by 160%. Interestingly, very few people expect a bull market rally. Among retail investors, there is little sign of a 2021-like rush around Bitcoin or other cryptocurrencies. However, analysts predict the growth of BTC. Tom, co-founder of the analytics firm Fundstrat, predicts. that Bitcoin will reach $150,000 by the end of 2024. Matrixport experts did not rule out Bitcoin rising to $63,000 in March. Pantera Capital specialists predicted BTC at $147,000 in 2025.

One difference from early 2021 is obvious: at that time, the price of Bitcoin had already broken its record value of almost $20,000 at the end of 2020. Despite the price increase over the past few weeks, it is still far from reaching a record high. Bitcoin reached this point in the fall of 2021 at around $69,000. Investors who bought BTC at that time are still in the red by about 28%.

At the turn of 2020/21, the price of Bitcoin doubled from its previous all-time high without any major frenzy. Today, no one knows whether there will actually be a bull market this year. 2019 also saw strong upward price movements several times throughout the year, but they never approached the then-record high.

This time, investors' hopes for a bullish rally are related to the following factors:

  • medium- and long-term effects of Bitcoin ETFs approved in the US market at the beginning of the year

  • possible positive impact on the price of the April halving

  • possible favorable macroeconomic environment with interest rate cuts by the central bank

This week, Ethereum surpassed the $3,000 mark for the first time since April 2022. This is due to the upcoming Dencun update. The upgrade is intended to facilitate faster and cheaper transactions. The update is expected around March 13th.c-11/>