Cryptocurrency Price on March 11: Bitcoin surges to new all-time high, crosses $71,000 mark for the first time (2024)

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Cryptocurrency Price on March 11: Bitcoin surges to new all-time high, crosses $71,000 mark for the first time? ›

Synopsis. Bitcoin hit a new all-time high on Monday, surpassing the $71,000 mark as money keeps rushing into the largest cryptocurrency by market value. In the last 24 hours, Bitcoin jumped to an intraday peak of $71,030 in volatile trading. It was last 2.4% higher at $70,900 at 1:07 pm IST.

Top Stories. Bitcoin (BTC) moved past $71,000 during the Asian hours, setting a new lifetime high. The leading cryptocurrency has been steadily rising since the approval of the spot bitcoin exchange-traded funds in the U.S. The token crossed $70,000 for the first time ever last week.

Bitcoin's remarkable ascent continues, breaking past $73,000, fueled by the recent approval of spot bitcoin ETFs and the buzz surrounding the upcoming halving event.

If Bitcoin continues this pattern into 2030, the price could peak around 2029 or 2030. If Wood is correct and Bitcoin reaches $3.8 million, if you invested $1,000 in Bitcoin now, it would be worth $54,280 in 2030. This would result in a compounded annual growth rate (CAGR) of nearly 95%.

Bitcoin's Price History

Obviously, the world's oldest cryptocurrency has come a long way since its first recorded price of less than a cent. In March 2024, BTC set a new all-time intraday trading high by breaking through the $69,000 level and even topping out at $73,000 before declining in price.

Bitcoin BTC/USD price history up until May 8, 2024

Bitcoin (BTC) price again reached an all-time high in 2024, as values exceeded over 73,000 USD in March 2024.

When Bitcoin reaches its planned limit of 21 million (expected around 2140), miners will be rewarded with fees for processing transactions that network users will pay. These fees ensure that miners still have the incentive to mine and keep the blockchain network going.

A major factor in bitcoin's rise since the start of the year has been the approval by the US financial regulator in January of exchange-traded funds [ETFs] – a basket of assets that can be bought and sold like shares on an exchange – that track the price of bitcoin.

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.

The halving, which happens roughly every four years, the latest of which is expected this week, is a change in bitcoin's underlying blockchain technology designed to reduce the rate at which new bitcoins are created.

How much will $100 Bitcoin be worth in 10 years? ›

A $100 investment in Bitcoin could purchase 0.00607 BTC today based on a price of $16,466.14 at the time of writing. If Bitcoin hits the $1 million price target by Wood in 2030, the $100 investment would turn into $6,070. This represents a gain of 5,970% from now until 2030.

Our most recent Bitcoin price forecast indicates that its value will increase by 14.58% and reach $66,426 by May 03, 2024.

The much-anticipated bitcoin halving event has come and gone, quietly marking a historic moment in the world of digital assets. On April 19, 2024, the block reward for bitcoin miners was reduced by half, from 6.25 BTC per mined block to 3.125 BTC per mined block. However, you wouldn't know it from the lack of fanfare.

10 Years of Decentralizing the Future

Jack Dorsey believes the price of bitcoin could reach over $1 million by the end of 2030. His outlook aligns with that of other industry leaders, such as Cathie Wood, who predicted that bitcoin could go as high as $1.5 million by that time.

Firstly, according to Bitcoin Price Prediction 2026, the BTC price range in 2026 is expected to be between $82,522 and $155,284. Moreover, the average price is projected to be $115,569.

As of 2023, Bitcoin's highest price ever recorded is $68,789. However, soon after reaching its highest point, the BTC price fell below $46,000 and then, eventually, hit the 2022 crypto winter when it even dipped below $16,000.

The price of bitcoin jumped to a new record on Friday, breaking through $70,000 for the first time ever.

The price of bitcoin soared to a fresh record Tuesday, exceeding its Covid-era high and putting an exclamation point on a rally that has taken Wall Street by storm. The largest cryptocurrency by market value climbed as high as $69,208.79, capping off a surge that has tripled its value over the past year.

Bitcoin has reached a new record price of almost $73,000 (£57,000), as the UK financial regulator said it would allow the trading of cryptocurrency-backed securities. The cryptocurrency hit a fresh high of $72,720 as of Monday evening having last week overtaken its previous November 2021 high of nearly $69,000.