Home » Skipped $66,800 – Bitcoin is getting closer and closer to its all-time high

Skipped $66,800 – Bitcoin is getting closer and closer to its all-time high

by admin
Skipped $66,800 – Bitcoin is getting closer and closer to its all-time high

The cryptocurrency Bitcoin was trading at $66,843.69 around 9:55 a.m. on Tuesday. This means that the value is only around 3.3 percent below the all-time high of $69,000.

Bitcoin is inexorably approaching its peak value, according to the website Coinbase shows. The previous record level of $69,000 from November 10, 2021 is now within reach. Bitcoin was last quoted at around $66,843.

Two developments are boosting Bitcoin value

According to observers, the current rise in the price of Bitcoin is primarily due to two factors.

  • In January, the US Securities and Exchange Commission (SEC) approved special Bitcoin investment products in the USA. These Bitcoin ETFs (“Exchange Traded Funds”) are novel because they allow investors to invest in Bitcoin without having to directly purchase or hold the digital currency itself. This makes the process simpler and cost-effective.
  • In April there will be another so-called halving for Bitcoin. The reward that Bitcoin “producers” (so-called miners) receive for verifying crypto transactions is halved. Ultimately, the process leads to a slower growing supply of Bitcoins. In the past, such a halving usually resulted in rising Bitcoin prices.

Optimists expect a jump over $100,000

Experts also think prices of over $100,000 are possible, including Bitpanda CEO Eric Demuth. However, there are also warning voices, such as the German consumer advice centers. Consumer advocates recently explained that Bitcoins are not recommended as an investment due to the risks – from strong price fluctuations to total loss. Instead, for example, they recommend fixed-term deposit accounts with good interest rates.

Be informed, understand, make the right decisionsHere you can get background information on current financial news. Every Friday as a newsletter.

See also  New Eliana? Virginia's program on SBT surprises and the web reacts: 'It was born for this'

* Fields marked with an * are mandatory. I agree that BurdaForward GmbH, St. Martin Straße 66, 81541 Munich, will regularly send me news on the topics selected above by email. I also agree that BurdaForward GmbH analyzes the use of the newsletter and uses it to personalize its content and offers. My consent can be revoked at any time. I can provide further information here recall.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy