The last time Bitcoin traded above $40,000 was in April 2022. According to CoinMarketCap data, the value of the first cryptocurrency is now $41,395, and the market capitalization has reached $810 billion. Over the year, the price of Bitcoin has soared by 144%, according to the service. Ethereum also updated its annual high and is trading at $2,245. In just one day, it has risen by 3.81%.
Bitcoin began to skyrocket in mid-October amid news of the possible approval of a spot Bitcoin ETF by the US Securities and Exchange Commission (SEC). In less than a month, the cryptocurrency rate increased by almost $10,000. Let us recall that the highest price of Bitcoin was recorded more than two years ago, in November 2021 – $68,789.
Previously, Matrixport analysts said that on the eve of halving, the cost of the first cryptocurrency could soar to $125,000 by the end of 2024. And Bernstein experts believe that the price of Bitcoin could rise to $150,000 by the beginning of 2025.
Source: Bits
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