The cryptocurrency market is experiencing a significant boom, with Bitcoin (BTC) reaching a new milestone at $64,000 ahead of its halving event, marking a historic moment. Similarly, the altcoin sector is seeing robust gains, with Ethereum (ETH) achieving a long-awaited goal for its investors by climbing to $3,500. This surge has led analysts to anticipate record-breaking highs for numerous crypto assets. Meanwhile, traders are curious about which cryptocurrencies will be the first to surpass their previous all-time highs in March.
Bitcoin (BTC)
Given that the Bitcoin halving event is scheduled to occur on April 20, there are numerous forecasts suggesting that Bitcoin could reach a new all-time high prior to the halving. Currently, Bitcoin is on track to conclude another month with positive gains, having increased by 47% since the beginning of February.
Bitcoin price is now around 11% away from its previous all-time high of $69K, achieved in 2021. On Wednesday morning, Bitcoin’s price surpassed $63,000 for the first time since November 2021, driven by an increase in trading volumes of spot bitcoin exchange-traded funds (ETFs) over the week.Top of Form
Analysts indicate that with spot Bitcoin ETFs drawing record inflow volumes and rising interest from institutional investors, there’s a possibility of Bitcoin retesting its all-time high of $69,000 by early March. Should the buying momentum remain strong, the price of BTC could be on a trajectory towards setting a new all-time high in the upcoming weeks. It is to be noted that Bitcoin has already broken its ATH against several fiat currencies.
Ethereum (ETH)
After Bitcoin’s rally towards $64K, Ethereum (ETH) also saw a significant increase, reaching a high of $3,500, and it looks set to mirror Bitcoin’s price movements in the upcoming weeks. Additionally, the eagerly awaited Dencun upgrade is scheduled for activation on the Ethereum mainnet on March 13 at epoch 269568, as mentioned in a recent blog post.
This update is set for 13:55 UTC, or 8:55 am ET. Ethereum’s potential to hit its all-time high of $4.9K is closely linked to Bitcoin achieving its own record high.
Solana (SOL)
Solana has experienced a nearly 30% increase in value over the past 30 days but remains 50% below its peak of $260, achieved in 2021. As Ethereum approaches the $4,000 threshold, there’s potential for Solana’s price to surpass $200.
Should the overall cryptocurrency market cap maintain its bullish momentum, Solana’s price could hit a new all-time high in March.
Cardano (ADA)
The price of Cardano could potentially rise alongside an anticipated increase in altcoin values if the price of Bitcoin reaches or surpasses $69,000 in March. This month, Cardano’s price has already surged by more than 30%, bringing it closer to its peak value, now about 80% away from its record high of $3.10.
Should Bitcoin’s price exceed its previous all-time high and climb above $75,000, it’s possible that we could see Cardano’s price exceed $3 in March.
Bonk And Pepe
The meme cryptocurrencies Bonk and Pepe have experienced significant increases, with gains of 98% and 182% respectively in February. At present, Bonk is just 29% below its all-time high (ATH) of $0.00003419, and Pepe coin is 32% away from its ATH of $0.000004354.
Should the current upward trend in the market continue into March, both meme coins could potentially reach new ATHs.