Bitcoin's Rollercoaster Ride: Highs and Lows.!
The recent surge in Bitcoin prices had been fuelled by increased investor interest following the approval of the Spot Bitcoin Exchange-Traded Fund (ETF) in the United States. However, concerns arose over the possibility of high interest rates persisting due to inflation data in America, contributing to the market downturn.
Despite the recent decline, Bitcoin had seen a remarkable overall increase of nearly 70 percent by the year 2024. Investors still managed to achieve significant returns, with gains of around 60 percent compared to the previous year. However, there remains apprehension among investors about the possibility of further declines, with predictions suggesting Bitcoin could drop to $58,000 to $59,000.