Bitcoin surpasses $69,000 mark, beating record of $68,991 in Nov 2021

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Bitcoin surge: Why should you still not invest in cryptos? These are 7 key reasons Bitcoin's staggering surge of almost 160% since October, with a remarkable 44% spike occurring solely in February, presents a stark juxtaposition to the crypto winter of 2022. During that period, the market endured an 18-month-long downturn characterized by notable corporate bankruptcies and scandals.

The resurgence of Bitcoin, along with the broader crypto market, can be attributed not only to increased demand from a more diverse investor base but also to the anticipation of the Federal Reserve's potential decision to reduce U.S. interest rates.

Such moves often lead investors to redirect capital towards assets offering higher yields or exhibiting greater volatility. “The market is witnessing a notable resurgence, with Bitcoin's price reaching towards its record highs, accompanied by a significant influx of institutional investment, which are the primary catalysts for this upward trend.

While meme coins are experiencing a transient upswing fueled by FOMO, the true drivers of this rally remain established players like Bitcoin and Ethereum, which are attracting robust demand from major investors," said Sumit Gupta, co-founder, CoinDCX. Gupta further added, “The introduction of exchange-traded funds (ETFs) is fundamentally altering the market landscape by providing a more accessible and secure avenue for individuals of diverse financial backgrounds to participate in the crypto ecosystem.

These investment vehicles are unlocking significant latent demand for crypto, as evidenced by the rapid growth of BlackRock's bitcoin ETF. This particular fund has reached $10 billion in assets under management within such a short timeframe, with projections