Watch the Bitcoin price after it hits $70,000, setting a new record high.

On March 8, the price of Bitcoin surged to a new all-time high of $70,000, breaking its high in more than three years. The exact reason for this increase in prices is unknown, but there is a trend from predictions that several events that have occurred may be what causes prices to continue to rise before there is. The adjustment went down in a few days.

Among the many events, one of them is the approach of Bitcoin Halving or the halving of a miner's daily reward for each mining session. The calculation period for the Halving to occur will be in April of this year. This will open the 4th Halving, which may be another factor that causes the price of Bitcoin to increase during this month.

Another factor that has been speculated is the announcement of the assets of many companies holding Bitcoin and the announcement of additional purchases of the coin, causing Bitcoin to be watched again in the coming months. Last week However, those who own a large amount of Bitcoin, or what we call whales, have not yet sold much of their Bircoin, causing the Bitcoin price that has shot up to record levels to gradually come down and the number of wallets increasing may be. The result comes from US Bitcoin exchange-traded funds (ETFs). The cumulative trading volume exceeded $52.5 billion on March 4.

Finally, there must be constant monitoring. Because the factors mentioned above are not guaranteed to be real factors. Many factors affect the price of Bitcoin, and the price can increase or decrease in the future.