According to the information portal CoinMarketCap, on Monday, February 26, the market capitalization of the first cryptocurrency reached $1.046 trillion — for the first time since December 2021.
The market value of one Bitcoin set a new two-year record of $53,600. After a slight drawdown to $50,700 on February 24, BTC recovered the fall.
Analysts at LookIntoBitcoin note that the price of Bitcoin is affected by the upcoming halving in April, as well as the imbalance between demand for the asset and its availability on the cryptocurrency market.
“The future supply/demand relationship of BTC shows that over time it will become more rare than a platinum music album. By 2032, after halving in 2024 and 2030, the scarcity of BTC will increase so sharply that the asset will become even more precious than gold,” according to LookIntoBitcoin.
Earlier, former CEO of the BitMEX cryptocurrency exchange Arthur Hayes suggested that the price of BTC could soon fall significantly due to rising investor inflation expectations.