Bitcoin has just reached the threshold of 119,000 USD, recording an impressive trading price with a slight increase during the day.
In the cryptocurrency market, Bitcoin continues to maintain its attractiveness as its price surpasses 119,000 USD, reflecting stability and interest from global investors.
- Bitcoin officially broke the 119,000 USD mark in a recent trading session.
- BTC price recorded a 0.34% growth in the past 24 hours.
- Positive market reactions show strong confidence in the price increase trend.
What is Bitcoin's current price and what is the current trading trend?
Bitcoin officially exceeded the 119,000 USD mark and maintained this price during early trading sessions in July 2024, demonstrating a stable growth trend, with a slight 0.34% fluctuation within 24 hours.
Data from OKX on 28/7/2024 shows that BTC has maintained a strong position, consolidating investor confidence. According to recent technical analyses, breaking this price level signals a solid advancement, creating a premise for further movements in the cryptocurrency market.
Financial expert Nguyen Minh Tuan (CEO of CryptoVision Investment Consulting Company) said: "Bitcoin surpassing the 119,000 USD threshold is not just a positive sign, but also stimulates large capital flows into the market, contributing to overall liquidation."
Bitcoin at its current high price helps consolidate its number 1 position in the cryptocurrency ecosystem, creating favorable conditions for transactions and DeFi applications to develop.
Nguyen Minh Tuan, CEO CryptoVision, 28/07/2024
Why does Bitcoin maintain price stability in a volatile cryptocurrency market?
Bitcoin maintaining a price above 119,000 USD demonstrates its intrinsic strength and dominant role in the ecosystem. This is evidence of high liquidation and long-term trust from the investor community.
Many market analysis reports suggest that Bitcoin tends to remain more stable than other altcoins during market fluctuations. Limited supply and increasingly widespread acceptance are key factors helping Bitcoin maintain its stable performance.
Bitcoin's solid value also supports growth in related areas like Staking, DeFi, and Non-Fungible Token, contributing to DeFi expansion. Positive market reactions mean medium and long-term investors have opportunities to consolidate safe portfolios.
What factors impact Bitcoin's price increase recently?
Increasing demand for Bitcoin as a store of value and investment, along with strong institutional money flows into the market, are the main reasons driving Bitcoin's price to new highs.
For example, data from the 2024 Chainalysis report shows a 15% increase in Bitcoin transfers to Cold Storage in the second quarter of 2024, indicating that large investors maintain long-term holding strategies, avoiding short-term fluctuations.
Additionally, global events related to inflation and monetary policies have created pressure pushing investors to shift funds to digital assets with better value preservation potential like Bitcoin.
Frequently Asked Questions
What is Bitcoin's current price and is it advisable to invest now?
Bitcoin is currently around 119,000 USD. Current investment requires considering long-term trends and market conditions, prioritizing thorough research and risk management.
Why does Bitcoin maintain good prices while many altcoins are volatile?
Bitcoin has limited supply and high liquidation, is trusted by many organizations, so it is less volatile compared to altcoins.
What factors significantly affect Bitcoin's current price?
The main factors are institutional capital, long-term holding trends, and impacts from global economic policies.
Should Bitcoin be considered a safe asset in the current economic context?
Bitcoin is gradually seen as a "digital gold", a value storage option when inflation and economic volatility are high.
How to track Bitcoin prices most accurately and quickly?
Use reputable exchanges like OKX, Binance combined with real-time price tracking tools to quickly update information.
