The entire cryptocurrency market was seen celebrating Bitcoin’s rise to its new all-time high. The world’s largest cryptocurrency rose to a peak of $111,861.22, stunning the globe yet again. BTC’s volatile nature worked out for the best for the community. Back in April, the king coin was trading at a low of $74,000. Therefore, this rise was much needed and appreciated by Bitcoin’s investors. The asset’s impeccable growth has been widely lauded. But an investment made last year could have brought in notable gains today.
Also Read: FIFA Signs Partnership With Avalanche (AVAX) to Build Its Own Blockchain
Glancing At Bitcoin’s Latest Price Chart
Bitcoin (BTC) managed to rise by 3.17% throughout the past 24 hours. At the time of writing, the king coin was trading at $111,020.13. The asset is only 0.46% below its peak. This slight drop is nothing but a mere correction. The past week has also been incredibly bullish for BTC as it surged by 8.34% during this time.
During this period, the Bitcoin market registered increased liquidations. According to data from Coinglass, throughout the past 24 hours, a total of $229.84 million was liquidated from the BTC market. Amidst this, a staggering $177.79 million short positions and $52.05 million long positions were liquidated.
Also Read: Pepe Coin Set To Explode By 105%, Here’s The Timeline
Returns On A 2024 Investment
Exactly a year ago, the king coin was priced at a low of $70,195. An investment made during that period will certainly rise at today’s price. With Bitcoin presently trading at $111,407.32, an investor who invested $5,000 in the cryptocurrency on May 22, 2024, when it was valued at $70,195, would now see their investment increase to almost $7,933.53. Over the course of a year, this amounts to a gain of over 59%. An investment of a higher magnitude would have brought in much larger gains for the cryptocurrency.
Also Read: CBDC Battle: Renminbi Leads $986B As 134 Nations Race to Kill USD
