By Susie Violet Ward · Forbes · 11 March 2024
On 11 March 2024, bitcoin reached what was then a new all-time high of $71,180 during early European trading. The article attributes the rise to demand from the US spot bitcoin ETFs launched in January 2024, which had attracted nearly $8 billion in two months, along with hopes of lower Federal Reserve interest rates and the halving expected the following month.
Industry figures and investment managers were optimistic about longer-term gains, with some projecting that bitcoin could reach or pass $100,000. The article notes that these forecasts depended on adoption, regulatory clarity and wider market conditions, and advises investors to remain mindful of volatility. It also describes the rally as reflecting growing acceptance of bitcoin as an institutional-grade asset.