{"id":81396,"date":"2024-03-12T10:53:05","date_gmt":"2024-03-12T06:53:05","guid":{"rendered":"https:\/\/techxmedia.com\/?p=81396"},"modified":"2024-03-12T10:53:07","modified_gmt":"2024-03-12T06:53:07","slug":"bitcoin-soars-over-72000-in-demand-surge","status":"publish","type":"post","link":"https:\/\/techxmedia.com\/en\/bitcoin-soars-over-72000-in-demand-surge\/","title":{"rendered":"Bitcoin Soars Over $72,000 in Demand Surge"},"content":{"rendered":"\n<p><strong><em>Source: Reuters.com<\/em><\/strong><\/p>\n\n\n\n<p>Bitcoin has smashed through previous records, surpassing the $72,000 mark on Monday, in the midst of an unyielding surge in demand for the leading cryptocurrency.<\/p>\n\n\n\n<p>At its peak, Bitcoin reached an impressive $72,739 before settling slightly lower, still up by 4.4% at $72,649.<\/p>\n\n\n\n<p>This extraordinary rally has been fueled by a substantial influx of capital into newly established spot bitcoin exchange-traded funds (ETFs) and anticipation of a potential interest rate cut by the Federal Reserve.<\/p>\n\n\n\n<p>Analysts from Bitfinex emphasized the resilience and strength of Bitcoin, attributing its recent surge to unwavering confidence and demand within the market.<\/p>\n\n\n\n<p>DailyFX strategist Nick Cawley noted that Bitcoin&#8217;s momentum at the beginning of the week has not only propelled its own value but has also lifted the entire cryptocurrency sector.<\/p>\n\n\n\n<p>Furthermore, the forthcoming &#8220;halving&#8221; event in April is expected to further tighten the supply of Bitcoin, as the issuance of new tokens and rewards for miners will be halved, a factor historically supportive of price appreciation.<\/p>\n\n\n\n<p>Despite its meteoric rise, predicting Bitcoin&#8217;s future price remains a daunting task due to its relatively short history as a financial asset. Recall that following a surge driven by retail enthusiasm in November 2021, Bitcoin experienced a significant crash, dragging down a substantial portion of the cryptocurrency industry with it.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Reuters.com Bitcoin has smashed through previous records, surpassing the [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":81399,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[9617],"tags":[1945,1891,2258,10180,2023,77],"contributor":[9732],"class_list":["post-81396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-bitcoin","tag-crypto","tag-cryptocurrency","tag-digital-currency","tag-digital-transformation","tag-technology","contributor-news-desk"],"featured_image_src":"https:\/\/techxmedia.com\/en\/wp-content\/uploads\/2024\/03\/Untitled-design-2024-03-12T114908.432.png","author_info":{"display_name":"Rabab","author_link":"https:\/\/techxmedia.com\/en\/author\/rabab\/"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/posts\/81396","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/comments?post=81396"}],"version-history":[{"count":0,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/posts\/81396\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/media\/81399"}],"wp:attachment":[{"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/media?parent=81396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/categories?post=81396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/tags?post=81396"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/contributor?post=81396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}