Grayscale February Report: Bitcoin may hit a new all-time high later this year
Grayscale released its February market report, which pointed out that the price of Bitcoin rose by 45% last month, breaking through $60,000 for the first time since the fourth quarter of 2021. This phenomenon reflects a significant influx of funds into new U.S.-listed ETFs and expectations for Bitcoin's halving in April. From an industry perspective, many encryption projects that have synergies with artificial intelligence technologies (such as Filecoin) have performed well. In addition, based on the previous encryption cycle, macro factors such as Federal Reserve monetary policy and economic conditions may significantly impact the valuation of encrypted assets. If the macro market outlook remains optimistic, it could lead to further increases in cryptocurrency prices this year. Currently, Bitcoin's price is only 9% below its all-time high; therefore, it may set new historical highs later this year.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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