Investors are shrugging off fears about increased regulatory pressure from the United States, Western agencies wrote.
On Thursday evening, the price of the Bitcoin cryptocurrency increased by more than 11% and reached the $25,000 mark, which is the highest since August 2022. This was confirmed by data from the CoinDesk exchange on Friday, November 11.
As of 11:30 am GMT, Bitcoin price was up 11.45% and was trading at $24,640. At the same time, the minimum price of the cryptocurrency in the last 24 hours was $22,103, and the maximum was $24,898.
The amount of capitalization of the Bitcoin market is at the level of 475 billion dollars.
As reported by Bloomberg, crypto assets suffered a significant drop earlier in the week due to the ban on some cryptocurrencies in the US, as well as the New York regulator’s decision to stop issuing BUSD, the third largest stablecoin.
But then, crypto assets continued to recover after last year’s slump. In particular, Bitcoin has grown by almost 50% since the beginning of the year. This suggests that investors are shrugging off fears about increased regulatory pressure from the United States.
In addition, crypto prices are rising in line with global markets amid growing confidence that the Federal Reserve’s interest rate hikes can curb inflation without pushing the US into recession.
Earlier it became known that Elon Musk’s Tesla sold 75% of its bitcoins for $936 million. The founder of the company explained why he took such a step.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.