Bitcoin Makes History: Price Surpasses Rp 1.1 Billion

Noer Huda By Noer Huda
2 Min Read
selective focus photo of Bitcoin near monitor

jlk – Monday morning, March 11, 2024, marked a historic moment for Bitcoin in the realm of cryptocurrency.

In a surprising leap, Bitcoin managed to reach a staggering price, recording a fantastic figure of $72,886 per coin, equivalent to around Rp 1.13 billion.

After enduring challenging times that shook its foundation, Bitcoin once again proved its resilience.

Amidst the bearish phase that hit in November 2022, Bitcoin’s price plummeted to $16,000. However, within a year, Bitcoin showed remarkable recovery momentum.

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The question that might arise is: what drove this surge? It turns out there are three key factors that served as the main catalysts. First, positive signals from UK financial regulators towards crypto-backed debt instruments, such as ETNs.

Second, the overall crypto market’s growth in value. And third, Bitcoin’s steadfast dominance, commanding about half of the market with a market capitalization reaching $1.41 trillion.

However, the success of Bitcoin does not stand alone. Other cryptos also felt the upward trend. Ether, Binance’s BNB, Solana, Dogecoin, Shiba Inu, Avalanche, and Polkadot also experienced price increases.

This reflects the euphoria sweeping through the entire crypto market, with the total market value reaching an impressive $2.84 trillion.

With this remarkable achievement, Bitcoin and other cryptocurrencies further affirm their existence as future assets. They not only promise profits but also usher us into a new era in the global financial system.

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Amidst its tumultuous journey, Bitcoin continues to make history, carving out astonishing achievements, and setting new standards in the crypto realm.

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