Home » Bitcoin reaches its highest level in over two years – Ether also strong | 02/26/24

Bitcoin reaches its highest level in over two years – Ether also strong | 02/26/24

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Bitcoin reaches its highest level in over two years – Ether also strong |  02/26/24

The price of one unit rose to $53,600 in the afternoon. This is the highest level since the end of 2021.

The increase in the afternoon was significant. At midday, Bitcoin was still trading at just under $51,000. The second most important digital currency, Ether, also rose. Here the price rose to $3,143. This is an increase of around 3.1 percent. According to the market portal Coingeko, the market value of all 12,891 digital currencies increased to $2.15 trillion.

The approval of several new Bitcoin funds in the USA, which was approved by the Securities and Exchange Commission (SEC) in January, is considered to be crucial for the price rally. These so-called spot ETFs enable interested parties to invest in Bitcoin without having to buy the digital asset itself directly.

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“The recent bull market could now go into the next round,” expects analyst Timo Emden. There would still be no major setbacks. “Slowly but surely the rally is becoming scary for speculators,” writes Emden.

Experts also point to the Bitcoin halving coming up in April, which will halve the reward for verifying transactions and thus cause the supply to grow more slowly. On the other hand, upcoming technical innovations in the Ethereum network are mentioned, which should spur interest in the associated digital currency. In addition, it is entirely conceivable that index funds on Ether will also be permitted in the USA.

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FRANKFURT (awp international)

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