Bitcoin (BTC), the largest cryptocurrency by market capitalization, is likely to reach all-time highs in more than 70 days this year, more than triple from last year, if the price continues to reflect 2017 performance.
It’s already on its way, reaching $109,000 on January 20, the day of President Donald Trump’s inauguration. In 2024, it recorded 23 records, the most since 2017, when it reached all-time highs in 77 days. This year, price action appears to be following the trajectory of eight years ago.
All-time highs seem to provoke different reactions in traditional and crypto financial markets. Typically, when Bitcoin hits a new high, the market is considered overheated, greedy, and overvalued. However, assets like gold and stocks often extend their bull runs. Gold hit new all-time highs at least 33 times in 2024.
