Bitcoin (BTC) nears all-time-high at $65,300, with 6% to go. Trading volumes surge to $40 billion. Ethereum (ETH) tests multi-year high at $3,520. Cardano (ADA) and Dogecoin (DOGE) show notable growth. USDT stablecoin hits $100 billion.
As of March 4, 2024, Bitcoin (BTC) surged past the $65,300 mark, inching closer to its historical peak by a mere $4,000.
At the time of this composition, BTC witnessed a slight dip, currently valued at $65,1050 with only a 6% gap remaining to reach its all-time high (ATH), according to data from CoinMarketCap. Trading activities continued to soar, registering an 80% surge to $40 billion in trading volumes.
The fear and greed index, as reported by Coinstats, hit 82 points, albeit experiencing a minor decrease of one unit over the past 24 hours. On the scale ranging from 76 to 100, this reading falls into the "Extreme greed" category, potentially signaling a prevailing FOMO sentiment in the market.
Simultaneously, Ethereum (ETH), the second-largest cryptocurrency, showcased an upward trajectory, surpassing the $3,500 threshold. ETH is currently testing a multi-year high, reaching $3,520, a level not seen since January 2022, more than two years ago.
Among the top 10 cryptocurrencies by market capitalization, Cardano (ADA) and Dogecoin (DOGE) exhibited notable growth percentages of 8% and 24%, respectively. Meanwhile, amidst the overall market surge, the capitalization of the stablecoin USDT reached $100 billion, marking a 9% increase since the beginning of the year.
Renowned crypto analyst PlanB had previously forecasted that Bitcoin would surpass $100,000 during the 2023-2024 bull run. Notably, PlanB accurately predicted cryptocurrency quotes in August, September, and October. The analyst is distinguished for utilizing the stock-to-flow (S2F) model, projecting a potential rise in Bitcoin's price to $1 million after the year 2024.