(The Herald Post) – In a surprising turn of events, the price of Bitcoin (BTC) experienced a sudden surge, pushing its value above the $29,000 mark. As of this publication, the digital currency trades at $29,240 per unit, leaving many to wonder if this increase will be sustained or short-lived.
Last March, Bitcoin briefly surpassed the $29,000 threshold, but only for a few minutes on certain markets such as Bitstamp before experiencing a drop. With the last sustained value above $29,000 occurring in June 2022, the cryptocurrency community eagerly awaits to see if Satoshi Nakamoto’s creation can maintain its newfound momentum.
As we head into April, several analysts predict a highly volatile month for the digital currency. Notable trader Willy Woo suggests that Bitcoin has entered “a reaccumulation phase,” a sentiment shared by others in the industry. As the market watches with bated breath, the fate of Bitcoin’s current surge remains uncertain.