Originally published on: October 30, 2024
Bitcoin has made history by reaching an unprecedented high in euros, signaling a strong breakout in BTC price. Recent data from Cointelegraph Markets Pro and TradingView confirms that the BTC/EUR pair reached a record peak of 67,987 euros on Binance.
With Bitcoin almost reentering US dollar price discovery territory this week, its rapid surge through final resistance points has been remarkable. This significant milestone in Europe was driven by shifts in dollar strength, allowing the largest cryptocurrency to break through a ceiling set back in March after almost eight months of consolidation.
Notably, major world currencies such as the Australian dollar, Canadian dollar, and Turkish lira are also hitting all-time lows in BTC terms, highlighting Bitcoin’s dominance in the global financial landscape.
Despite facing criticism from the European Central Bank (ECB) in the past, Bitcoin continues to defy odds and set new records. The recent ECB paper, which downplayed the economic value of Bitcoin, was met with skepticism from the crypto community, emphasizing the ongoing battle between traditional financial institutions and the crypto world.
While Bitcoin eyes a new dollar all-time high, it is also gearing up for a definitive breakout against gold. The iconic veteran trader Peter Brandt highlighted the challenge ahead for Bitcoin bulls in surpassing gold’s current all-time high of $2,789.85 per ounce.
As the risk-asset market experiences a resurgence in Q4, Bitcoin’s potential to outshine traditional assets like gold is becoming increasingly evident. It is essential for investors to conduct thorough research and make informed decisions before venturing into the volatile world of cryptocurrencies.
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