May 2024 turned out to be eventful for the cryptocurrency world, especially for its perennial flagship — Bitcoin.

May 2024 turned out to be eventful for the cryptocurrency world, especially for its perennial flagship — Bitcoin. Let’s take a look at the key events of this month that shaped the cryptocurrency market.

Bitcoin broke the $60,000 mark.
The beginning of May marked a new historic achievement for Bitcoin — its price surpassed the $60,000 mark per coin. This event confirms the continued growth of interest in cryptocurrencies among investors and strengthens Bitcoin’s position as the leading digital asset in the market.

Former US President voiced support for Bitcoin.
At the beginning of the month, Donald Trump, the former President of the United States, expressed his support for the cryptocurrency Bitcoin. This statement sparked wide resonance in the cryptocurrency community and underscored the significance of Bitcoin on the global stage.

Institutional investments in Bitcoin continue to grow.
In May, it became known about new investments by major institutional players in Bitcoin. This trend indicates growing confidence in digital assets among large financial institutions and corporations.

Bitcoin price correction.
Mid-month saw a correction in the price of Bitcoin after reaching the $60,000 mark. This is due to partial profit-taking by investors after a prolonged price increase and some market factors.

Resumption of growth by the end of the month.
Despite the correction, Bitcoin demonstrated resilience and resumed its upward trend by the end of May. This indicates continued investor interest in cryptocurrencies and belief in their long-term prospects.