Benzinga - Leading cryptocurrency Bitcoin (CRYTPO: BTC) hit new all-time highs on Tuesday reaching past the $69,000 price level.
While this accomplishment was well-received by the crypto community, many point to the next milestone prices, including $100,000. Another upcoming milestone is a meme number previously said could break the internet.
What Happened: The approval of Bitcoin ETFs in early 2024 led to optimism and increased attention to the cryptocurrency sector.
Increased inflows for Bitcoin ETFs could also be leading to increased demand for the cryptocurrency and a soaring price.
Bitcoin launched in 2009 and took several years to reach a price of $1, a far cry from the five-digit range at which it now trades.
In 2011, the cryptocurrency hit a price of $1 for the first time as more cryptocurrency exchanges added the coin to their platforms, making it easier to buy, sell and hold Bitcoin.
The year 2021 went down as one of the biggest the cryptocurrency market had seen with even more attention to the sector and soaring prices. Bitcoin hit a previous all-time high of $68,789.63 in November 2021.
The following year saw Bitcoin and other cryptocurrencies fall in value and interest, with several notable cryptocurrency trading platforms declaring bankruptcy.
With Bitcoin over $60,000 in recent weeks and briefly clearing the $69,000 level on Tuesday, a new price many investors are ready for could be in reach.
Related Link: EXCLUSIVE: Why Does Cathie Wood Think Bitcoin Is Going To $1 Million — What Does She Know That We Don’t?
What's Next: Bitcoin hitting $69,420 is an event that Bitcoin bull Anthony Pompliano previously said could "break the internet."
$69,420 bitcoin price will break the internet.— Pomp