Bitcoin exceeded $60 thousand - for the first time in 2 years. Investors predict a new historic high in the coming weeks

Bitcoin was last trading above $60,000 in November 2021 - shortly after it reached its all-time high.

According to CoinMarketCap data, the flagship cryptocurrency has risen by more than 13% on a weekly chart and by 37% in the last month. Currently, bitcoin is trading at $60,250 - for the first time since November 2021 (it has since dropped by 67% to a macro minimum of $19,297 in early April 2022).

As noted by Cointelegraph, the total market capitalization of the cryptocurrency market has increased by 2.85% in the last 24 hours to $2.19 trillion.

On February 27, the industry recovered market capitalization to $2 trillion as the price of bitcoin exceeded $57,000, supported by bitcoin ETF inflows and improved investor sentiment.

According to Mikkel Morch, founder of the digital asset investment fund ARK36, a new all-time high for both bitcoin and ether could be seen in the next few weeks.