The dramatic rise of Bitcoin to levels above $25,000 is a topic of intense industry discussion. In November 2022, the king coin fell to a low of $15,599. The community became terrified as a result since they thought BTC was on its way out. However, the asset had recovered after rising by 50% in 2023 alone.
Following this increase, the community was euphoric, and Bitcoin quickly became the buzz of the cryptocurrency world. Gemini CEO Cameron Winklevoss emphasized how the asset has risen significantly from its pre-FTX crisis pricing levels. He tweeted,
“Bitcoin just broke 25k, price levels well above pre-FTX collapse. A clear signal that our industry is moving beyond this painful chapter — we will not be defined by it. We are back to building the future.”
But at the time of writing, Bitcoin was experiencing a correction, which further caused the value to fall by 3.49%. After a brief time in the $24K-$25K range, the king coin was trading for $23,787.63. But many people observed that the bull market had begun.
Bitcoin’s Bull Run glory
The world as a whole is changing. Emerging technology like artificial intelligence is generating a lot of hype. In fact, advocates contend that AI has the potential to eliminate some occupations. The cryptocurrency sector has, nevertheless, been adjusting to these innovations. Many of them did lose their employment during the 2022 bear market, but the upcoming BTC bull market may make up for this. According to Alex Gladstein, CSO of HRF,
“The next Bitcoin bull market will bring an enormous amount of new talent and ideas into the ecosystem
Don’t underestimate what they will bring to the table. They will change the world”
The ongoing legal dispute between Ripple and the Securities and Exchange Commission (SEC) poses a serious threat to the bull market. The town is on edge as a result of the lawsuit’s verdict. The status of numerous other assets is at risk if XRP is determined to be a security. However, the same is anticipated to untether Bitcoin. Gladstein also brought up the prospect of the SEC classifying Bitcoin in the similar manner.