Bitcoin Retains All-Time High Past $73,000. How Soon to $80,000?

Bitcoin continues to climb after a new record has been achieved, and it is pushing closer to $80,000 despite a negative US CPI report.

Written by: Timothy St. John • Wednesday, March 13, 2024 • 2 min read

• Last updated: Wednesday, March 13, 2024

Bitcoin (BTC) has a new record of $73,637 (BTC/USD) as of this morning. It has fallen only marginally since then and is still up 1.73% for the past 24 hours.

Not only has Bitcoin reached a new record, but it is holding onto that level above $73,000 and is positioned to move higher. It may not be much longer before it surpasses $80,000, an achievement that seemed almost unthinkable in recent years.

Bitcoin has surpassed many analyst expectations to keep on pressing upward even after its new record, which indicates that it has long-term bullish potential and that it may take a significant event to slow it down. Over the last 30 days, Bitcoin has gained 46%, which sets it apart from most of the crypto market for gains right now. The market is bullish, but it is Bitcoin leading the way and pulling the rest of the tokens up with it.

Where Can Bitcoin Go from Here?

For those hoping to see Bitcoin at $80k soon, the good news is that a poor showing for the US CPI report has not slowed it down. Most markets seem to be shrugging off those numbers, and Bitcoin continues to move forward toward a significant halving event that could mean even greater gains.

At its current rate, Bitcoin could reach $80,000 by late next week, and it might even hit $100,000 before the halving event in late April. When that halving event occurs, it will take twice as much effort to keep producing the same amount of bitcoin, making the token a rarer and more expensive digital asset. The price could jump significantly then.

Most industry experts expect that Bitcoin will hit $100k this year, and it has the potential to go up to $150k before the year is done. It is too early to adjust expectations beyond that since rising inflation and a sluggish economy could hurt Bitcoin’s efforts in the next few months.

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ABOUT THE AUTHOR See More

Timothy St. John

Financial Writer - European & US Desks

Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.