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Bitcoin price rose above $40,000

The $40 thousand mark was exceeded for the first time in many months. Experts believe this is just the beginning.

The rapid growth of the Bitcoin rate began at the end of November. And on December 4, the cryptocurrency rose above $40 thousand, reaching a 19-month high. About it writes CNBC.

Data from crypto price tracking site CoinMarketCap confirms the growth and shows that Bitcoin is up more than 145% over the past year. The screenshot above reflects the exchange rate dynamics over the past seven days.

Noticeable changes in the cryptocurrency market are associated with two factors. The first is waiting for the approval of a spot Bitcoin ETF, which is an open-end fund with a more dynamic share issuance system. The second is the situation with US Federal Reserve interest rates.

“It looks like 2023 was a year of preparation for the growth ahead. But the sentiment for 2024 and 2025 is very encouraging,” Pascal Gauthier, CEO of Ledger, told CNBC.

Be that as it may, Bitcoin is still far from reaching its all-time high. It was recorded on November 10, 2021, when the price reached $69 thousand.

Earlier, the “Bitcoin Skyscraper” was presented in Dubai. This is a huge hotel that will consist of 40 floors. It will become a monument to Bitcoin and Satoshi Nakamoto (creator of BTC).

Source: Cryptocurrency

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