The price of Bitcoin is nearing its best weekly close in five months, with a $25,000 target now firmly in sight. This week has been particularly fruitful for the world’s largest cryptocurrency as it continues to set new records and attract more attention from institutional investors.
This surge comes after a period of relative stability following the dramatic crash at the start of 2021 that saw prices dip below $30,000 before recovering back above $50,000 by mid-February. Since then BTC has continued to climb steadily higher and is now on track for its highest weekly close since November 2020 when it was trading around $18K per coin.
It appears that this trend could continue into next week too as traders look ahead to both monthly and yearly closing events which could provide further impetus for another leg up in price action over the coming days or weeks. With so much positive momentum behind Bitcoin right now there’s no telling how high it might go but one thing is certain: if current trends hold true then we may soon be looking at an all-time high above 25K USD per coin!
Read more at Cointelegraph
