There’s elation and there’s euphoria, and then there’s the unrestrained rapture that descends upon Bitcoin’s emboldened bulls whenever the cryptocurrency soars to a fresh record.
Bitcoin rocketed on Wednesday past its prior high in April to just under $67,000, galvanized by the successful launch of the first U.S. Bitcoin futures exchange-traded fund — the second-busiest ETF debut on record and another step in its evolution from the frontiers of finance toward something with more mainstream appeal. The cryptocurrency has rallied 120% in 2021 — and for some believers, $100,000 is once again in sight.
As notorious as Bitcoin has been for its wild price swings, the cryptocurrency’s ability time and again to not only recover but reach new all-time highs — or "ATH,” as Bitcoin brethren say — has confounded skeptics and given bulls more to cheer.