crypto coins
After its spectacular fall in 2022, bitcoin started a remarkable recovery in the autumn of last year. — © getty
After a remarkable comeback, bitcoin became worth more than $69,000 on Tuesday. This set a new record.
The price of bitcoin, the first and largest cryptocurrency, rose to $69,191.95 in New York on Tuesday morning. This broke the previous record, which dated from November 2021. The record is not unexpected. After its spectacular fall in 2022 (where the price of a bitcoin fell to around $ 16,000 and a major trading platform such as FTX went bankrupt), the world’s most famous cryptocurrency started a remarkable recovery in the autumn of last year. At the beginning of this year it was already worth $43,000, and since then the value has risen another 60 percent.
The increase is driven by continued strong investor demand for US listed bitcoin funds, which were first launched in January after the stock market watchdog gave the green light. The prospect of possible falling interest rates has also reignited interest in bitcoin. In addition, there is the prospect of the so-called “halving”, which will put a brake on the growth of new coins. The supply of bitcoin is limited to 21 million, of which 19 million have already been mined.
“This all-time high for bitcoin is a turning point for crypto,” Nathan McCauley, CEO of crypto platform Anchorage Digital, told Reuters. “Traditional institutions such as banks used to not participate; Today they are driving the crypto bull market.” The currency remains volatile. Later in the evening, bitcoin fell about 10 percent. (kde, blg, rtr)
2024-03-05 19:46:21
#Bitcoin #breaks #record #drop #sharply
