Bitcoin has risen sharply since last week as trading volume in US-listed Bitcoin funds increased.
The price of the world’s most popular cryptocurrency, Bitcoin, has exceeded $65 thousand. This is a new record since December 2021, according to trading data on Monday, March 4.
function news4659619() {
$.get(‘//’ + window.location.host + ‘/ajax/module.aspx?spm_id=444&id=4659619&lang=2&IsAjax=true’, function (data) { $(‘#nk4659619’).html(data); });
}
news4659619();
Thus, at the beginning of the Asian day, the price of Bitcoin increased by almost 6% and reached $65,316. At the same time, the historical record for the cryptocurrency is $68,999.99, which was set in November 2021.
Bitcoin is up 50% since the start of 2024, Reuters reports, with most of the gains coming in the past few weeks as trading volume in US-listed Bitcoin funds increased.
The flows haven’t dried up as investors are more confident that the price looks set to rise, said Markus Thielen, head of crypto analytics research at 10x Research in Singapore.
Another popular cryptocurrency, Ethereum, has also risen on speculation that it too may soon have exchange-traded funds to fuel inflows. Since the beginning of the year, Ethereum has grown by more than 50%.
We remind you that in January the United States took an important step towards legalizing Bitcoin. The SEC allowed fund industry heavyweights BlackRock, Invesco and Fidelity to compete with smaller rivals including Valkyrie to begin trading. After that, the price of the cryptocurrency began to rise rapidly.
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.