Bitcoin (BTC) price has broken through the $25,000 milestone to set a new yearly high, with its market value soaring to dizzying heights.
The pioneer crypto has seen a dramatic surge in demand over the past few weeks, with some investors flocking to buy it and others hoping to buy at a lower price.
The latest surge comes as institutional investors pour money into Bitcoin, adding to the buying frenzy and driving up its value even further. The move has also been driven by a wave of positive sentiment around the crypto market, with many experts predicting BTC price could go even higher in the coming months.
A technical target of 42K this year to take #BTC out of the 'buy zone'… pic.twitter.com/nI6o0y55f9
— dave the wave
(@davthewave) January 17, 2023
Bitcoin price increase has also had a knock-on effect on other cryptos, with many of them also seeing huge gains in value.
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