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March 5, 2024

Bitcoin Price Breaks All-Time High in Epic Resurgence – Here’s What Happened the Last Time BTC Tapped Its ATH

By Daily Hodl Staff

Bitcoin (BTC) has officially broken its all-time high in US dollars, defying naysayers who’ve long declared the crypto asset useless and dead.

BTC just edged past its previous all-time high of nearly $69,000, which was set on November 10th, 2021, on multiple major exchanges including Coinbase, Binance and Bitstamp.

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At time of publishing, the leading crypto asset has backed down to $68,377, up 3.2% in the last 24 hours.

Source: Bitstamp

Bitcoin’s resurgence follows the 2022 collapse of the crypto industry – a fall that devastated scores of investors who placed their capital and trust in Luna, Three Arrows Capital, Celsius, BlockFi, Voyager, Genesis, Digital Currency Group and of course, FTX.

The U.S. Securities and Exchange Commission’s approval of multiple Bitcoin ETFs early this year has unleashed a flood of capital into the leading crypto asset.

The crush of cash pushed BTC past its all-time high ahead of its April halving in a historic first.

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So what’s next?

Historically, BTC has continued to run red hot after reaching its all-time highs.

As noted by Bitcoin researcher and advocate Dylan LeClair, this is how long it took BTC to double in price after passing previous all-time highs:

  • December of 2020: 18 days
  • March of 2017: 84 days
  • November of 2013: 10 days
  • March of 2013: 18 days

The last time Bitcoin beat its all-time high, its price tripled in 103 days.

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If that were to happen again, it would bring BTC to $207,000.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/80’s Child