Bitcoin Surpasses $45000 as Expectations Rise for Bitcoin ETF: For the first time since April 2022, the price of Bitcoin, reached $45,000 and expectations are high for the approval of the launch of Bitcoin exchange-traded funds.
Traders bet that the price of Bitcoin would reach $50,000, capitalizing on the ETF’s optimism.
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Bitcoin price rise
The price of Bitcoin (the largest cryptocurrency)rose by 4% to the highest level since April 2022 and reached $44,844,
the price of other cryptocurrencies also rose, and the price of Ethereum (the second largest cryptocurrency) rose by about 2.6%.
Since the beginning of December 2023, the price of Bitcoin has increased by more than 15%,
ahead of the US Securities and Exchange Commission’s January 15 issuance date that would allow the adoption of Bitcoin for exchange-traded funds.
Hayden Hughes, co-founder of social media trading platform Alpha Impact,
said there is a group of traders in the US and Europe who fear missing the opportunity
to invest in Bitcoin before the US Securities and Exchange Commission makes the decision.
There is a swap fee and some have started the new year by purchasing Bitcoin.
Traders expect the price of Bitcoin to reach $50,000 but remain optimistic about the launch of exchange-traded funds.
Bitcoin Recovery
Strong demand for risky assets, supported by expectations of lower interest rates in the United States,
has led to a rally in Bitcoin in recent months, and this growth has offset the losses that resulted from the sharp drop in the currency’s price,
was partially offset in 2022, which has expanded to the cryptocurrency market,
be known that the price of Bitcoin is still below the all-time high that reached around $69,000 in 2021 during the COVID-19 pandemic.
Bitcoin Surpasses $45,000 as Expectations Rise for Bitcoin ETF