Bitcoin is worth more than $45,000 for the first time in nearly two years. The price of the cryptocurrency increased by more than 4%, indicating growing confidence among major investors.
The price of the coin is influenced by expectations that the US stock market’s Securities and Exchange Commission (SEC) will approve the first listed bitcoin funds early this year. Last year, numerous large financial companies applied for it.
Investors in the United States and Europe fear they don’t have enough bitcoin to benefit from the funds. This is why they buy in abundance now, which drives up the price. The watchdog’s approval could unlock billions of dollars in additional cryptocurrency investments.
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Also providing a favorable signal is the prospect that the key rates of the central banks of the United States and the Eurozone will soon fall again. Yet its value is still far from the record price: in November 2021 bitcoin was worth just under 69 thousand dollars. A month ago, the value of the coin increased to $40,000.
Other cryptocurrencies are also doing well. For example, ether, the second largest cryptocurrency, is trading up nearly 3%.
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2024-01-02 07:51:25
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