Bitcoin recently achieved a significant milestone by closing above the $40,000 level for the first time since April 2022.
This positive development has fueled optimism among Bitcoin holders, supported by seven consecutive weeks of gains.
The consistent series of weekly gains indicates a strong bullish sentiment, suggesting an upward trajectory for Bitcoin’s price.
ADVERTISEMENT
This positive trend comes amid challenges in the cryptocurrency market, including the downfall of FTX, a prominent cryptocurrency exchange, in November of the previous year.
The founder of FTX, Bankman-Fried, faced legal consequences last month, being found guilty of all seven felony counts related to the collapse of the cryptocurrency company.
