Bitcoin briefly reached its highest level ever on Tuesday, exceeding $68,800, according to the CoinMarketCap website. This is slightly higher than the previous record set in November 2021.
The price of the largest cryptocurrency in the world has increased by nearly 200 percent over the past year. Gains have increased over the past months, as a result of interest related to regulatory approval for the offering of Bitcoin exchange instruments at the beginning of this year.
Analysts attributed the recent rise to the growing popularity of this new means of investment, in addition to building expectations about “a halving in the value of Bitcoin” during the next month.
The digital currency Bitcoin witnessed sharp changes in its price, as it jumped from about five thousand dollars at the beginning of the pandemic, to about 69 thousand dollars in November 2021, partly due to the high demand for technology products.
Prices fell again during the period of raising interest rates to control inflation, and then the collapse of the cryptocurrency exchange giant in 2022, which affected people’s confidence in the industry.
At the beginning of last year, the price of one Bitcoin was less than $17,000, but investors returned in large numbers, while inflation began to decline.
The collapse of prominent technology-focused banks in 2023 led more investors to resort to cryptocurrency, while abandoning support for startups in Silicon Valley and other risky bets.
2024-03-05 20:04:50
#Bitcoin #highest #levels
