According to CoinGecko data, the price of bitcoin (BTC) on Halloween 2024 reached a record high of $72,342.This figure is more than twice the value of the cryptocurrency on the same day last year, when the digital coin traded at $34,494, indicating a 109% year-over-year increase. Such a rise becomes an indicator of the market’s recovery from the bearish trend of recent years and may indicate a renewed investor interest in cryptocurrencies.Analyzing historical data, it can be seen that the price of bitcoin has varied significantly over the years, especially since 2015, when one BTC was worth only $312. Since then, bitcoin has seen a growth of 23,086%, transforming from an alternative investment asset to a staple of the global financial market. The growth over 9 years emphasizes the potential of BTC as an investment instrument, especially in the face of high inflation and economic instability in traditional financial markets.
Comparisons with previous peaks also show interesting trends. For example, in 2021, at the height of the previous bullrun, bitcoin reached a value of $61,837 on Halloween, which was the previous record for that day. Returning to high price levels and exceeding them in 2024 indicates a revival of bullish sentiment among market participants.
According to analysts, the surge in prices can be attributed to both increased interest from institutional investors and the strengthening of market infrastructure, which makes bitcoin investments more accessible and safe. Market participants are also watching the development of the regulatory framework for cryptocurrencies, as the support of regulators may contribute to the inflow of new investors and strengthen confidence in bitcoin as an investment asset.
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Author: Camila Russo is an experienced journalist with a focus on crypto news.
