The value of Bitcoin briefly reached a record high of $70,000 on March 8, 2024. This price rise is being attributed towards Bitcon's recent surge in popularity, as the cryptocurrency has been the subject of much attention from the international investment community. 

Bitcoin has surged past the $60,000 mark for the first time since 2021, igniting a fervent trading frenzy in regions where crypto trading are currently being regulated. The rally saw Bitcoin's value soar by as much as 12.6% to reach $63,968 on Wednesday, before slightly retracting to the $60,000 region. This surge has elevated the cryptocurrency's gains to an 42% in the first two months of the year alone.

Bitcoin spiked above $50,000 Tuesday for the first time in more than two years as investors grow optimistic that US approval of broader trading in the unit will ramp up demand