Bitcoin (BTC), the largest cryptocurrency by market capitalization, is likely to hit record highs of more than 70 days this year, more than tripling last year’s figure, if the price continues to mirror 2017’s performance.

It’s already on track to hit $109,000 on January 20, the day of President Donald Trump’s inauguration. In 2024, it set 23 records, the most since 2017, when it hit records on 77 days. This year, price action appears to be following the trajectory of eight years ago.

Record highs seem to be evoking different reactions in crypto and traditional financial markets. Typically, when bitcoin breaks to a new high, the market is considered overheated, greedy and overpriced. However, assets such as gold and stocks often extend their bull runs. Gold hit new highs at least 33 times in 2024.