The year 2024 kicks off with Bitcoin (BTC), the original cryptocurrency, reaching new peaks, sparking excitement despite recent corrections. As BTC enters a phase of price discovery once more, analysts are debating the potential surge in price during the upcoming golden bull run.

Having surpassed bearish trends around $31,000, Bitcoin quickly surged past $40,000 and $50,000 to reach $60,000. This rapid rise led to expectations of a new all-time high (ATH), which Bitcoin achieved shortly after, signaling the start of a price discovery phase that it is expected to continue exploring post-correction.

BTC, currently on the path to recovery, has seen a remarkable 206.68% increase in value over the past year. Trading at its highest level yet, surpassing its previous ATH in 2021, Bitcoin hit a new high of $70,083 on March 8, 2024.

On March 14, 2024, Bitcoin once again exceeded its previous peak, reaching $73,750. This surge propelled its market capitalization to $1.44 trillion, contributing to the overall crypto market capitalization of $2.77 trillion, showcasing an impressive performance.

The highly anticipated Bitcoin Halving event is approaching in April 2024, with the crypto community eagerly awaiting a significant price surge for Bitcoin and other altcoins.

Following the halving event completion, Bitcoin miners will see their rewards reduced from mining 6.25 bitcoins to 3.125.

Reports suggest that BTC is projected to reach a new high of $88,000 later this year and potentially even hit $100,000 shortly after the halving. Analysts predict BTC could reach $125,000 by 2025 and $360,000 by 2030. Notably, prominent figures like Michael Saylor anticipate Bitcoin's price soaring all the way to $1 million.

As always, it is advised for individuals in the crypto community to conduct thorough research before making any investment decisions in cryptocurrencies. The sector is known for its volatility with rapid price fluctuations; however, Bitcoin (BTC) remains perceived as the least risky asset among all cryptocurrencies.