The cryptocurrency rose to $70,105 before quickly falling to trade at $68,317.72. Specialists warn that it is difficult to get rid of the speculative nature of this type of asset.

This Friday, Bitcoin briefly hit all-time highs amid volatile trading as enthusiasm for cryptocurrencies spreads among investors.

In this way, Bitcoin surpassed the US$70,000 mark for the first time, driven by investor demand for new exchange-traded crypto products in the United States and expectations of a drop in global interest rates.

The cryptocurrency rose to $70,105 before quickly falling to trade at $68,317.72.

ETFs have seen billions of dollars flow in recent weeks, and the market is further benefiting from an outlook that includes an upgrade to the Ethereum blockchain platform, home to the second-largest cryptocurrency, Ether, and a bitcoin halving event scheduled for April.

Still, some say it's difficult to get rid of the speculative nature of these assets. After hitting an all-time high on Tuesday, Bitcoin abruptly changed direction and fell more than 10%, returning below the $60,000 level.

“Volatility defines Bitcoin bull markets, and 2024 will be marked by sudden and distressing drops of 10% to 20%,” said Antoni Trenchev, co-founder of cryptocurrency lending platform Nexo.