Tuesday, February 27, 2024

Bitcoin price hits 21-month high

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Published on: Wednesday, January 3, 2024 – 12:21 AM | Last Updated: Wednesday, January 3, 2024 – 12:21 AM

The price of the encrypted digital currency surpassed $45,000 per unit for the first time in nearly two years, in light of expectations that exchange-traded investment funds will be allowed to invest directly in digital currencies.

The world's largest cryptocurrency rose 5.2% today, hitting its highest level since April 2022, as it traded at $45,443 per unit at 7 a.m. New York time, Bloomberg News Agency reported on Tuesday. The price of Ether, the world's second largest digital currency, rose 4.1% this morning, as did the prices of other official currencies.

Since the beginning of last December, the price of Bitcoin has risen by 20%, as the January 10th deadline for the announcement of the decision of the Securities and Trade Commission regarding the investment of commercial investment funds in Bitcoin approaches.

For his part, Hayden Hughes, co-founder of online trading platform Alpha Impact, said there were concerns among some traders in the US and Europe before the immediate approval of investment funds that could trade in digital currencies, and investors started buying the currency. to the morning of the first day of the new year.

The price of bitcoin reached around $50,000 per unit in options trading today, supported by optimism about the outcome of tradable investment funds.

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Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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