{"id":29979,"date":"2024-03-08T09:59:13","date_gmt":"2024-03-08T16:59:13","guid":{"rendered":"https:\/\/blinkbargain.com\/blog\/bitcoin-passes-70000-only-to-plummet-again\/"},"modified":"2024-03-08T09:59:13","modified_gmt":"2024-03-08T16:59:13","slug":"bitcoin-passes-70000-only-to-plummet-again","status":"publish","type":"blog","link":"https:\/\/blinkbargain.com\/blog\/bitcoin-passes-70000-only-to-plummet-again\/","title":{"rendered":"Bitcoin Passes $70,000 Only to Plummet Again"},"content":{"rendered":"

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Bitcoin<\/a><\/span> reached a new all-time high Friday morning, just days after it broke a previous high<\/a><\/span>. The cryptocurrency peaked at $70,136.33, according to CoinDesk<\/a><\/span>. As soon as it established a new high, Bitcoin fell by thousands of dollars minutes later. <\/p>\n

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Why Bitcoin won\u2019t reach $1,000,000<\/p>\n<\/div>\n

This up-and-down rollercoaster has been the norm for the past few weeks. Bitcoin traders will be active in the morning causing the price to go up and up, and then Bitcoin owners want to cash in their crypto causing the price to drop quite dramatically. In just an hour after passing $70,000 Friday morning, the value of Bitcoin dropped back below $67,000. This goes to show that the volatility of cryptocurrency is still very real. <\/p>\n

It\u2019s been a big year for Bitcoin. The crypto coin\u2019s value started at just over $42,200 on Jan. 1<\/a><\/span>. Its meteoric rise in the first three months of the year comes in part due to the US Securities and Exchange Commission approving several Bitcoin ETFs<\/a><\/span>, which gave the cryptocurrency a bit more security and increased interest by financial firms. <\/p>\n

Even with hitting its all-time high, Bitcoin in 2024 isn\u2019t as valuable as it was when the price of one Bitcoin hit $68,982.20 in Nov. 2021<\/a><\/span>. In fact, today\u2019s Bitcoin is worth several thousand dollars less than it was almost three years ago. To reach an all-time high when adjusting for inflation, Bitcoin would need to top out at $76,544.11 to beat its high in 2021. Maybe it\u2019ll get there soon enough, or maybe this current crypto hype cycle will cause another bubble to burst<\/a><\/span>. <\/p>\n<\/div>\n<\/div>\n

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Image: Tom Stepanov (Shutterstock)Bitcoin reached a new all-time high Friday morning, just days after it broke a previous high. The cryptocurrency peaked at $70,136.33, according to CoinDesk. As soon as it established a new high, Bitcoin fell by thousands of dollars minutes later. Why Bitcoin won\u2019t reach $1,000,000This up-and-down rollercoaster has been the norm for […]<\/p>\n","protected":false},"author":14,"featured_media":29980,"comment_status":"open","ping_status":"open","template":"","meta":{"footnotes":""},"blog_tag":[],"blog_category":[14720,16568],"class_list":["post-29979","blog","type-blog","status-publish","has-post-thumbnail","hentry","blog_category-latest-posts","blog_category-tech-gadgets"],"yoast_head":"\nBitcoin Passes $70,000 Only to Plummet Again - BlinkBargain<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blinkbargain.com\/blog\/bitcoin-passes-70000-only-to-plummet-again\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Passes $70,000 Only to Plummet Again - BlinkBargain\" \/>\n<meta property=\"og:description\" content=\"Image: Tom Stepanov (Shutterstock) Bitcoin reached a new all-time high Friday morning, just days after it broke a previous high. 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Why Bitcoin won\u2019t reach $1,000,000 This up-and-down rollercoaster has been the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/blinkbargain.com\/blog\/bitcoin-passes-70000-only-to-plummet-again\/\" \/>\n<meta property=\"og:site_name\" content=\"BlinkBargain\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/blinkbargain.com\/blog\/bitcoin-passes-70000-only-to-plummet-again\/\",\"url\":\"https:\/\/blinkbargain.com\/blog\/bitcoin-passes-70000-only-to-plummet-again\/\",\"name\":\"Bitcoin Passes $70,000 Only to Plummet Again - BlinkBargain\",\"isPartOf\":{\"@id\":\"https:\/\/wordpress-904548-3141361.cloudwaysapps.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/blinkbargain.com\/blog\/bitcoin-passes-70000-only-to-plummet-again\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/blinkbargain.com\/blog\/bitcoin-passes-70000-only-to-plummet-again\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/blinkbargain.com\/wp-content\/uploads\/2024\/03\/e94f91ecf53a5b8f202040dd2cc37fcd.jpg\",\"datePublished\":\"2024-03-08T16:59:13+00:00\",\"dateModified\":\"2024-03-08T16:59:13+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/blinkbargain.com\/blog\/bitcoin-passes-70000-only-to-plummet-again\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/blinkbargain.com\/blog\/bitcoin-passes-70000-only-to-plummet-again\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/blinkbargain.com\/blog\/bitcoin-passes-70000-only-to-plummet-again\/#primaryimage\",\"url\":\"https:\/\/blinkbargain.com\/wp-content\/uploads\/2024\/03\/e94f91ecf53a5b8f202040dd2cc37fcd.jpg\",\"contentUrl\":\"https:\/\/blinkbargain.com\/wp-content\/uploads\/2024\/03\/e94f91ecf53a5b8f202040dd2cc37fcd.jpg\",\"width\":1200,\"height\":675},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/blinkbargain.com\/blog\/bitcoin-passes-70000-only-to-plummet-again\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/blinkbargain.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Blog\",\"item\":\"https:\/\/blinkbargain.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Bitcoin Passes $70,000 Only to Plummet Again\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/wordpress-904548-3141361.cloudwaysapps.com\/#website\",\"url\":\"https:\/\/wordpress-904548-3141361.cloudwaysapps.com\/\",\"name\":\"BlinkBargain\",\"description\":\"Popular and Trending Products\",\"publisher\":{\"@id\":\"https:\/\/wordpress-904548-3141361.cloudwaysapps.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/wordpress-904548-3141361.cloudwaysapps.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/wordpress-904548-3141361.cloudwaysapps.com\/#organization\",\"name\":\"Bestchoicedeals\",\"url\":\"https:\/\/wordpress-904548-3141361.cloudwaysapps.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wordpress-904548-3141361.cloudwaysapps.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/blinkbargain.com\/wp-content\/uploads\/2024\/03\/Screenshot_2024-03-01_at_2.07.23_PM-removebg-preview.png\",\"contentUrl\":\"https:\/\/blinkbargain.com\/wp-content\/uploads\/2024\/03\/Screenshot_2024-03-01_at_2.07.23_PM-removebg-preview.png\",\"width\":1150,\"height\":213,\"caption\":\"Bestchoicedeals\"},\"image\":{\"@id\":\"https:\/\/wordpress-904548-3141361.cloudwaysapps.com\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bitcoin Passes $70,000 Only to Plummet Again - BlinkBargain","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/blinkbargain.com\/blog\/bitcoin-passes-70000-only-to-plummet-again\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Passes $70,000 Only to Plummet Again - BlinkBargain","og_description":"Image: Tom Stepanov (Shutterstock) Bitcoin reached a new all-time high Friday morning, just days after it broke a previous high. 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