{"id":608813,"date":"2024-05-19T15:00:35","date_gmt":"2024-05-19T15:00:35","guid":{"rendered":"https:\/\/wncen.com\/?p=608813"},"modified":"2024-07-11T09:20:21","modified_gmt":"2024-07-11T09:20:21","slug":"bitcoin-boom-price-explodes-past-67000-as-investor-confidence-returns","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-boom-price-explodes-past-67000-as-investor-confidence-returns\/","title":{"rendered":"Bitcoin Boom: Price Explodes Past $67,000 As Investor Confidence Returns"},"content":{"rendered":"<p>Although volatility in the bitcoin market has rocked it over the past year, Bitcoin is currently making an amazing recovery and surpassing $67,000 for the first time since late 2023.<\/p>\n<p><span id=\"input-sentence~0\">The Bitcoin community has been energised by this unanticipated surge, which has also inspired general confidence and fresh hope among investors.<\/span><span id=\"input-sentence~1\"><br \/>\n<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/crypto-alert-vechain-bull-run-imminent-expert-predicts-500-rally\/\" target=\"_blank\" rel=\"noopener \">Crypto Alert: VeChain Bull Run Imminent, Expert Predicts 500% Rally<\/a><\/div>\n<h2><strong>Confidence In Bitcoin High<\/strong><\/h2>\n<p><span id=\"input-sentence~1\">Based on Santiment&#8217;s &#8220;Weighted Sentiment&#8221; indicator, the general attitude of the Bitcoin community is now most positive since the SEC&#8217;s historic approval of Bitcoin spot ETFs in late 2023.<\/span><span id=\"input-sentence~2\"><br \/>\n<\/span><\/p>\n<p>That pivotal regulatory move had significantly bolstered confidence in the cryptocurrency&#8217;s legitimacy and legitimized it as an investable asset class.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">\ud83e\udd73 The crowd&#8217;s sentiment has shifted toward <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Bitcoin<\/a> after the surprise bounce above $66K Wednesday (and now above $67.2K). Additionally, <a href=\"https:\/\/twitter.com\/hashtag\/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Chainlink<\/a> is seeing its most <a href=\"https:\/\/twitter.com\/hashtag\/bullish?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#bullish<\/a> sentiment in over a year. <a href=\"https:\/\/twitter.com\/hashtag\/FOMO?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#FOMO<\/a> staying low will help these rises continue. <a href=\"https:\/\/t.co\/TcEPBdS9Oh\" rel=\"nofollow\">https:\/\/t.co\/TcEPBdS9Oh<\/a> <a href=\"https:\/\/t.co\/czvE1mOgId\" rel=\"nofollow\">pic.twitter.com\/czvE1mOgId<\/a><\/p>\n<p>\u2014 Santiment (@santimentfeed) <a href=\"https:\/\/twitter.com\/santimentfeed\/status\/84526623?ref_src=twsrc%5Etfw\" rel=\"nofollow\">May 17, 2024<\/a><\/p><\/blockquote>\n<p><span id=\"input-sentence~3\">Passionate debates abound on social media as Bitcoin aficionados share their enthusiasm about the future of the bitcoin.<\/span><span id=\"input-sentence~4\"> Many are making comparisons to the previous significant bull run of 2021, when Bitcoin hit its all-time high of almost $68, 000.<br \/>\n<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-608817\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/a_d7d0c4.png?resize=1024%2C708\" alt=\"\" width=\"1024\" height=\"708\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/a_d7d0c4.png?w=1279 1279w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/a_d7d0c4.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/a_d7d0c4.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/a_d7d0c4.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/a_d7d0c4.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/a_d7d0c4.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<h2><strong>Cautionary Notes Amidst The Enthusiasm<\/strong><\/h2>\n<p><span id=\"input-sentence~4\">Although the<a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\" rel=\"nofollow\"> Bitcoin<\/a> community celebrates this most recent success, seasoned analysts are advising investors to exercise caution and stay away from the dangers of snap decisions.<\/span><span id=\"input-sentence~5\"> Markets for cryptocurrencies are famously erratic, and Bitcoin&#8217;s price history is full with sharp swings.<br \/>\n<\/span><\/p>\n<p><span id=\"input-sentence~5\">Along with a general increase in conventional markets, Bitcoin&#8217;s recent comeback begs issues regarding the degree to which the performance of the coin is entwined with the larger financial ecosystem.<\/span><span id=\"input-sentence~6\"> For instance, a possible stock market fall could slow down Bitcoin&#8217;s progress as investors move their money in line.<br \/>\n<\/span><\/p>\n<figure style=\"width: 1835px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/NlNuRl4I\/\" width=\"1835\" height=\"883\"><figcaption class=\"wp-caption-text\">Bitcoin is now trading at $67.176. Chart: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/figcaption><\/figure>\n<h3><strong>Managing FOMO, Maintaining A Long-Term Perspective<\/strong><\/h3>\n<p><span id=\"input-sentence~6\">The risk of FOMO, the<a href=\"https:\/\/www.investopedia.com\/deal-with-crypto-fomo-6455103\" rel=\"nofollow\"> fear of missing out<\/a>, rises along with the price of Bitcoin.<\/span><span id=\"input-sentence~7\"> Fearing they would lose out on major rewards, this psychological phenomena can cause investors to act impulsively.<br \/>\n<\/span><\/p>\n<p><span id=\"input-sentence~7\">Although the comeback of Bitcoin has energised the bitcoin community, seasoned investors are aware that the road ahead could not be clear-cut. Sometimes extreme bullish attitude serves as a contrarian indicator, implying that the market might be about to peak.<\/span><span id=\"input-sentence~8\"><br \/>\n<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/floki-inu-frenzy-memecoin-eyes-new-highs-as-open-interest-soars\/\" target=\"_blank\" rel=\"noopener \">Floki Inu Frenzy: Memecoin Eyes New Highs As Open Interest Soars<\/a><\/div>\n<div class=\"flex flex-grow flex-col max-w-full\">\n<div class=\"min-h-[20px] text-message flex flex-col items-start whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 juice:w-full juice:items-end overflow-x-auto gap-2\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"e7d149d5-078c-40a2-ae60-d57cd8b549ea\">\n<div class=\"flex w-full flex-col gap-1 juice:empty:hidden juice:first:pt-[3px]\">\n<div class=\"markdown prose w-full break-words dark:prose-invert dark\">\n<p><span id=\"input-sentence~8\">Market volatility, meantime, is always a source of anxiety since it can cause notable price fluctuations at any moment. Furthermore, governments all around struggle to create systems that strike a mix of innovation and investor protection, hence regulatory scrutiny looms big.<\/span><span id=\"input-sentence~9\"><br \/>\n<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Data from Coangecko shows that Bitcoin was trading at<a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\" rel=\"nofollow\"> $67,096<\/a> at the time of writing, down a meagre 0.2% in the last 24 hours, but managed to sustain a 10.0% increase in the last seven days.<\/p>\n<p><em>Featured image from iStock, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Although volatility in the bitcoin market has rocked it over the past year, Bitcoin is currently making an amazing recovery and surpassing $67,000 for the first time since late 2023. The Bitcoin community has been energised by this unanticipated surge, which has also inspired general confidence and fresh hope among investors. Related Reading: Crypto Alert: VeChain Bull Run Imminent, Expert Predicts 500% Rally Confidence In Bitcoin High Based on Santiment&#8217;s &#8220;Weighted Sentiment&#8221; indicator, the general attitude of the Bitcoin community is now most positive since the SEC&#8217;s historic approval of Bitcoin spot ETFs in late 2023. That pivotal regulatory move had significantly bolstered confidence in the cryptocurrency&#8217;s legitimacy and legitimized it as an investable asset class. \ud83e\udd73 The crowd&#8217;s sentiment has shifted toward #Bitcoin after the surprise bounce above $66K Wednesday (and now above $67.2K). Additionally, #Chainlink is seeing its most #bullish sentiment in over a year. #FOMO staying low will help these rises continue. https:\/\/t.co\/TcEPBdS9Oh pic.twitter.com\/czvE1mOgId \u2014 Santiment (@santimentfeed) May 17, 2024 Passionate debates abound on social media as Bitcoin aficionados share their enthusiasm about the future of the bitcoin. Many are making comparisons to the previous significant bull run of 2021, when Bitcoin hit its all-time high of almost $68, 000. Cautionary Notes Amidst The Enthusiasm Although the Bitcoin community celebrates this most recent success, seasoned analysts are advising investors to exercise caution and stay away from the dangers of snap decisions. Markets for cryptocurrencies are famously erratic, and Bitcoin&#8217;s price history is full with sharp swings. Along with a general increase in conventional markets, Bitcoin&#8217;s recent comeback begs issues regarding the degree to which the performance of the coin is entwined with the larger financial ecosystem. For instance, a possible stock market fall could slow down Bitcoin&#8217;s progress as investors move their money in line. Managing FOMO, Maintaining A Long-Term Perspective The risk of FOMO, the fear of missing out, rises along with the price of Bitcoin. Fearing they would lose out on major rewards, this psychological phenomena can cause investors to act impulsively. Although the comeback of Bitcoin has energised the bitcoin community, seasoned investors are aware that the road ahead could not be clear-cut. Sometimes extreme bullish attitude serves as a contrarian indicator, implying that the market might be about to peak. Related Reading: Floki Inu Frenzy: Memecoin Eyes New Highs As Open Interest Soars Market volatility, meantime, is always a source of anxiety since it can cause notable price fluctuations at any moment. Furthermore, governments all around struggle to create systems that strike a mix of innovation and investor protection, hence regulatory scrutiny looms big. Data from Coangecko shows that Bitcoin was trading at $67,096 at the time of writing, down a meagre 0.2% in the last 24 hours, but managed to sustain a 10.0% increase in the last seven days. Featured image from iStock, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":608820,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,755,1119,1144,14690,1558],"class_list":["post-608813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-bitcoin-technical-analysis","tag-btc","tag-btcusd","tag-crypto-news","tag-cryptocurrency"],"acf":[],"yoast_head":"\n<title>Bitcoin Boom: Price Explodes Past $67,000 As Investor Confidence Returns<\/title>\n<meta name=\"description\" content=\"Although volatility in the bitcoin market has rocked it over the past year, Bitcoin is currently making an amazing recovery and surpassing $67,000 for the\" \/>\n<meta name=\"robots\" content=\"index, follow, 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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