Kathmandu. In the world market, the price of the virtual currency Bitcoin has surged in the month of October. The price of this currency, which fell from 34,000 in May 2022, has reached close to 35,000 after about a year and a half. In the month of October of this year alone, Bitcoin has increased by 8 thousand dollars.

Bitcoin's price has been on a roller coaster ride since it first debuted in January 2009, but the long-term trajectory has been higher - "up and to the right," as they say. Bitcoin ushered in the age of cryptocurrency, but it took quite a while before the public sat up and took notice.

In the first week of October, Bitcoin traded at $26,000 per unit, and by the end of the month, Bitcoin has traded above $34,000. If the resistance of 32000 is broken, this currency can face resistance at 42000 dollars. International analysts have said that if it goes up from there, it can go up to 48 thousand dollars.

After what can only be described as a thrilling end of 2020 for Bitcoin, the digital currency started 2021 with a bang. The cryptocurrency climbed to start the year, peaking above $64,000 by mid-April, following a strong first quarter. Promises of seemingly never-ending liquidity from the Federal Reserve gave markets – both crypto and stocks – unbridled optimism.

Later, in September, China announced that all cryptocurrency transactions were illegal and that even foreign websites offering such services to Chinese traders were prohibited. The market shrugged off that news, and by October the currency was back over $60,000 and on its way to a new all-time high, at $68,789, on Nov. 10, 2021.

That malaise continued into 2022, as rising inflation and a central bank intent on raising rates to thwart it, drove investors from risky assets. Bitcoin bounced around the $40,000 mark for months, but as the Fed began to aggressively raise interest rates in March, it began to sink.

In mid-2022, Bitcoin established a new trading range of around $20,000 but then sank to less than $16,000 as high-profile blow-ups such as FTX hurt traders' confidence. The price picked up in 2023, gaining more than 50 percent through mid-June, amid a broader rally in tech stocks. Bitcoin traded for around $26,000 as of mid-June 2023 despite.