Bitcoin price broke through the $41,000 mark, hitting a 19-month high.

In the early hours of this morning, the price of Bitcoin exceeded the $41,000 mark, setting a 19-month high since May 2021. This news attracted widespread attention from the market and investors. According to CryptoPotato, Bitcoin has left a large number of short positions in the past 24 hours, which means that there are many investors in the market who are skeptical about the future trend of Bitcoin. However, despite these disagreements, the price of Bitcoin continues to rise.

Many analysts and experts believe that Bitcoin’s bull run has already begun, while others believe that the bull run will arrive after the Bitcoin halving in 2024. Bitcoin halving means that every four years or so, the rewards on the Bitcoin network are cut in half. This event will affect the market supply and demand relationship, causing the price of Bitcoin to rise. Bitcoin halvings traditionally coincide with significant increases in Bitcoin prices and major bull runs occurring across the industry.

However, prominent fund manager and “multi-asset investor” Jeroen Blokland believes that this rally is different compared to the last time the cryptocurrency traded at these levels. The last time Bitcoin topped $40,000 was in May last year. Since then, cryptocurrency scandals and poor overall market sentiment have caused prices to fall. While many investors are focused on the halving, Bitcoin’s acceleration as an “accepted” asset class feels different than the last time the price hit $40,000.

In addition to Bitcoin halving expectations, other factors in the cryptocurrency market may also have an impact on Bitcoin price increases. For example, as more institutional investors enter the cryptocurrency market, demand for Bitcoin is likely to increase. In addition, with the development and application of blockchain technology, the reliability of Bitcoin as a value store and exchange medium may also be further improved.

The upcoming December 2023 could also be an interesting month for the cryptocurrency market. The U.S. Federal Open Market Committee (FOMC) will meet on December 13 to review its anti-inflation policy and decide whether to increase the inflation rate. Most experts believe that interest rates will remain unchanged, which could have a positive impact on the price of risky markets such as Bitcoin #BTC #ETH