Bitcoin Sets Another Record, Climbs Above $45,000 For First Time Since April 2022

2024-01-02 17:06:08Biznes SHKRUAR NGA REDAKSIA VOX

Bitcoin Sets Another Record, Climbs Above $45,000 For First Time Since April

Bitcoin topped $45,000 on Tuesday for the first time since April 2022, as the world's largest cryptocurrency began the New Year with yet another optimism.

Bitcoin hit a 21-month high of $45,532, gaining 156% in its strongest annual performance since 2020. Bitcoin was last up 2.5% at $45,318, but remains well short of a record high of $69,000 it reached in November 2021.

Ether, the currency linked to the ethereum blockchain network, was 1.45% higher at $2,386 on Tuesday, up 91% in 2023.

Investors' focus has been on whether the US securities regulator will soon approve a bitcoin exchange-traded fund, which would open up the crypto market to millions more investors and attract billions investments.

The US Securities and Exchange Commission has rejected multiple applications to launch a bitcoin spot exchange-traded fund in recent years, arguing that the cryptocurrency market is vulnerable to manipulation.

However, there have been growing signs in recent months that regulators are prepared to sign off on at least some of the 13 proposed bitcoin spot exchange-traded funds, with expectations that the decision is likely to be approved in early January.

But market analysts warn that the reaction to a possible rejection of the approval would register an immediate fall in bitcoin.

Increased bets that major central banks will cut interest rates this year have also been a boon for cryptocurrencies, helping to overcome the "dark" moments that settled over crypto markets after the FTX crash and other crypto failures -business in 2022.


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