Bitcoin above $45,000 for first time since April 2022 (2024)

FAQs

Bitcoin above $45,000 for first time since April 2022? ›

Jan 2 (Reuters) - Bitcoin galloped past $45,000 on Tuesday, for the first time since April 2022, as the world's biggest cryptocurrency started the new year with a bang, buoyed by optimism around the possible approval of exchange-traded spot bitcoin funds.

Bitcoin rose above $45,000 on Tuesday for the first time since April 2022 as the world's biggest and best-known cryptocurrency started 2024 with a bang buoyed by optimism around possible approval of exchange-traded spot bitcoin funds.

Bitcoin surpassed $45,000 for the first time in nearly two years as anticipation of an approval of an exchange-traded fund investing directly in the biggest token intensified. The cryptocurrency jumped as much as 5.2% to its highest level since April 2022 and traded at $45,063 as of 3 p.m. New York time.

WASHINGTON/LONDON, Feb 12 (Reuters) - Bitcoin hit the $50,000 level for the first time in more than two years as the world's largest cryptocurrency was buoyed by expectations of interest rate cuts later this year and last month's regulatory nod for U.S. exchange-traded funds designed to track its price.

The closing price for Bitcoin (BTC) in April 2022 was $37,792.73, on April 30, 2022. It was down 17.1% for the month. The latest price is $63,672.18.

Bitcoin predictions

Bitcoin price movements are notoriously difficult to predict, especially over weeks or months at a time. But momentum seems bullish in 2024, and there is evidence the bitcoin rally still has legs.

Evidence of this can be found when analyzing Bitcoin's performance in the year halvings occur. On average, Bitcoin has increased roughly 125% in halving years. However, the year after a halving tends to produce the best gains.

Fidelity Predicts: $1B per 1 BTC by 2038 — 2040

Jurrien Timmer, the Director of Global Macro at Fidelity Investments, thinks the value of a single Bitcoin could reach $1 billion by the year 2038 — very close to our Bitcoin price prediction 2040 target date. Timmer's demand model is rooted in Metcalfe's Law.

In just 2024 alone, it's added $400 billion to its market and finds itself a measly 10% off of its all-time high of around $68,000. For years, investors have had their sights set on Bitcoin reaching a $100,000 price tag, and it finally looks like it could happen.

After all 21 million bitcoin are mined, which is estimated to occur around the year 2140, the network will no longer produce new bitcoin. The block subsidy will go to zero but miners will continue to receive transaction fees, which will make up an ever greater portion of the block reward.

What if you put $1000 in Bitcoin 5 years ago? ›

If you had invested $1,000 into bitcoin five years ago, the investment would have grown by 1,352% and be worth around $14,524 as of Feb. 14. If you had bought $1,000 worth of bitcoin 10 years ago, it would have grown by 7,644% and be worth around $77,443 as of Feb.

Bitcoin prices have fallen over 30% from their high twice, and over 60% once, over the past five years alone! But you'd be pretty happy if you'd bought five years ago and held on for dear life. A $1,000 investment in Bitcoin five years ago will have grown to over $13,000 today.

Bitcoin, it found, is likely to hit an average peak price of $87,875 in 2024, with some experts predicting it will climb as high as $200,000. On the flip side, the average lowest price Bitcoin could hit by the end of 2024, is seen as $35,734, the report said, with some predicting it will fall as low as $20,000.

Assuming a constant monthly investment of $500 for 10 years and a bitcoin price of $1 million per coin at the end, you would earn a profit of approximately $4.8 million. If I put $500 in Bitcoin at $25,000, how much would that be if it goes up to $60k? Take 500 and divide it by $25,000. That's .

Unfortunately, it's also incredibly volatile. For that reason, while current market conditions are favorable for anyone considering buying Bitcoin, it is an asset you should purchase only at your own risk. Because while Bitcoin may have the potential for significant returns, you may also lose most of your investment.

The new record had been a long time coming: It's been over two years since the cryptocurrency reached its previous high of around $68,982 on Nov. 10, 2021. One factor that appears to be fueling bitcoin's recent rise is the debut of bitcoin ETFs.

The closing price for Bitcoin (BTC) on April 22, 2022 was $39,699.52. It was down 2% for the day.

The closing price for Bitcoin (BTC) on April 25, 2022 was $40,128.61.

2021: Highest Price Historically (Over $68,000)

The BTC coin reached its peak in 2021 (at least as of 2023). More specifically, on November 10th.