Bitcoin still has a bright future.

Bitcoin 's ( BTC -2.62% ) price has more than doubled over the past 12 months, and it now trades just a few percentage points shy of its all-time high of nearly $123,000. Investors might be reluctant to buy more Bitcoin after those massive gains, but it could still be a smart place to park $1,000.

Why did Bitcoin's price soar?

Five main catalysts drove Bitcoin's price higher in 2024 and 2025: its spot price exchange-traded funds ( ETFs ), its latest halving, lower interest rates, more crypto-friendly government policies, and big purchases from institutional investors, companies, and entire countries.

Last January, the Securities and Exchange Commission (SEC) approved the first spot price ETFs for Bitcoin. Those new ETFs made it easier for ret

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