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After the highs of 2021, the levels seen for the first time in cryptocurrencies seem to have created great excitement among investors. Bitcoin, which reached an all-time high in November 2021, later entered a decline and had ended just above $15,000 by the end of 2022. 2023 has been a fantastic year for cryptocurrencies, with Bitcoin settling above $40,000 as the year came to an end. 2024 brought a new breath to cryptocurrencies.
Prominent Economist Comments on Cryptocurrency
Although only two months into 2024, the year already seems to hold many stories for cryptocurrencies. The approval of spot Bitcoin ETFs in mid-January and the subsequent volatile price action indicate a fast start for investors.
Following the ETF approval, BTC instantly rose to $49,000 but then retreated to $38,500 before beginning to recover.
Recent price movements, which started a few days ago and peaked today, seem to have turned investors’ eyes back to the world of cryptocurrency. Bitcoin’s price surpassed $64,000 in the past few hours, reaching a level not seen since November 2021.
Amidst these price movements, a comment has come from one of Turkey’s famous economists, Ahmet Mahfi Eğilmez.
After a long time, Eğilmez made a new comment on cryptocurrencies, exciting investors following a user’s reminder of a statement made about Bitcoin 7 years ago and asking for his current opinion.
In his statement, Eğilmez mentioned that a lot has changed between 7 years ago and now, suggesting that investors could hold up to 20% in cryptocurrencies in their portfolios. However, he also cautioned investors to be careful.
Current Bitcoin Situation
The price of Bitcoin surged to $64,000 this evening within minutes. After this level, BTC experienced a sharp pullback, falling below $60,000.
After the selling pressure, the price rose again above $61,000 and is maintaining its course in this region. The price movement seems to parallel the warnings made by Mahfi Eğilmez.
Just a few hours after the expert mentioned that the ups and downs could be very sharp, the price movements of $4,000 up and down were reflected in the charts.
On the other hand, looking at Bitcoin’s market capitalization, its value has risen to $1.2 trillion. Lastly, examining the trading volume, there was a 44% increase due to intense investor interest, with the value rising to $75 billion.
