Bitcoin, the original and most valuable cryptocurrency, surged past $71,000 on Wednesday. It jumped over 9% in a single day, driving gains across the entire cryptocurrency market.
Cryptocurrency markets bounced back on Wednesday, reversing recent losses and overcoming earlier weakness seen in other investments.
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Bitcoin’s price jumped almost 9%, hitting $71,928 – its highest point in almost a month. While it pulled back slightly, it was still up 5.62% for the day, trading at $71,343 at the time of this report.
Bitcoin, the most popular cryptocurrency, experienced a volatile start to the week, briefly falling to $63,019 on Saturday. However, investor confidence quickly returned, with U.S. Bitcoin ETFs seeing over $680 million in new investments on Monday and Tuesday, according to Bloomberg.
Bitcoin woke up today and chose green.
— Paolo Ardoino 🤖 (@paoloardoino) March 4, 2026
Bitcoin’s price recently surged past $71,000, sparking discussion both within and outside the cryptocurrency world. Paolo Ardoino, CEO of Tether, playfully noted the increase, saying, “Bitcoin decided to go up today.”
Peter Schiff questions BTC‘s rise
Peter Schiff, a well-known critic of cryptocurrency, has once again expressed skepticism about Bitcoin’s recent price increase, suggesting it’s a temporary illusion.
Bitcoin’s price is currently over $71,000, but this is likely a temporary surge. It’s best not to question potential profits – instead, consider selling your Bitcoin now and investing in more stable assets like gold or silver. You might appreciate this advice later on.
— Peter Schiff (@PeterSchiff) March 4, 2026
According to Peter Schiff, Bitcoin’s current price above $71,000 is deceptive. He advises against questioning a potentially good situation and recommends selling Bitcoin to invest in gold or silver, believing this will prove to be a wise decision in the future.
Peter Schiff, a long-time advocate for gold, has frequently been critical of Bitcoin’s price increases. He once predicted Bitcoin could fall to $20,000, believing the price difference between Bitcoin and gold would continue to widen.
For a long time, Bitcoin supporters have likened it to gold, suggesting it’s a secure investment during uncertain economic periods. But that idea didn’t hold up recently, as Bitcoin’s value decreased while gold actually increased. However, over the past few days, Bitcoin has done better than gold, increasing by 9% since Friday.
Even though cryptocurrency prices are starting to recover, the market is still nervous. Bitcoin, after a significant drop over several months, is still about 43% below its peak from October. This situation has traders closely watching to see what happens next.
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2026-03-04 18:00