Bitcoin is making a return after a year of market turmoil, hitting $67,000 for the first time since late 2023.
This surprise increase has energized the Bitcoin community and given investors hope.
Santiment’s “Weighted Sentiment” statistic shows the Bitcoin community’s highest positive sentiment since the SEC’s late 2023 approval of Bitcoin spot ETFs.
That crucial legislative decision legitimized cryptocurrencies as an investable asset class and boosted trust in it.
Bitcoin aficionados are raving on social media about its possibilities. The previous great bull run in 2021, when Bitcoin hit $68,000, is being compared.
While the Bitcoin community celebrates this new success, seasoned experts advise investors to make rash decisions. Bitcoin’s price history is marked by extreme volatility.
Bitcoin’s current comeback coincides with a larger uptick in conventional markets, prompting doubts about how closely the crypto’s success is tied to the financial environment. For instance, a stock market crisis might slow Bitcoin as investors relocate their money.
