bitcoin-is-close-to-its-all-time-high-and-may-continue-to-grow

Bitcoin is close to its all-time high and may continue to grow

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The value of bitcoin has exceeded $65 thousand. The last time it  reached this level was at the end of 2021, and to surpass the historical maximum, it must increase in value by another $3.6 thousand. Reuters writes about this, UNN reports.

Details

At the beginning of trading on the European market, the price of bitcoin reached a session high of $65,537, setting a new two-year record. Bitcoin reached its all-time high in November 2021, when it cost $68,999.99.

The most expensive cryptocurrency has risen by 50% this year, with much of the increase coming in recent weeks, when inflows to US-registered bitcoin funds have surged. The launch of spot bitcoin exchange-traded funds in the United States earlier this year paved the way for new large investors and reignited enthusiasm, hinting at a move to record levels like in 2021.

Investors are feeling more confident, it looks like the price will be even higher

- said Marcus Thielen, Head of Crypto Analytics at 10x Research in Singapore.

Net inflows to the 10 largest US spot bitcoin funds reached $2.17 billion in the week to March 1, with more than half of that coming from BlackRock's iShares Bitcoin Trust (IBIT.O).

Recall

In early February, also for the first time since 2021, bitcoin surpassed the $50,000 mark. At that time, it rose by $3 thousand per day.

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Біткойн сягне 200 тисяч доларів до 2025 року – Standard Chartered10.01.24, 05:02

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