Bitcoin Surges To Record $60,000 After Weeks Of Correction

Bitcoin has surged to $60,000 for the first time in history early Saturday morning.

What Happened: The leading cryptocurrency crossed the $59,000 levels and quickly surged to $60,000. It is trading at $60,170 at press time, according to a data platform Trading View.

BTC has had weeks of what experts called “a healthy correction” for the market.

An expert trader Peter Brandt called this dip "getting rid of the late FOMO buyers" period.

The cryptocurrency previously peaked at $57,432 on Feb. 21 and had a downtrend after.

Why It Matters: Bitcoin price reversed on March 5, signaling the potential future upward movement.

An on-chain analyst Willi Woo noted on March 11 that the major consolidation for this year was nearly complete.

Co-founders of a crypto data analytics platform, Glassnode shared that major tactical indicators for Bitcoin price were pointing to a "very healthy territory."