The price of bitcoin has reached above $47,000 for the first time since April 2022 amid the readiness of US regulators to approve exchange-traded funds that invest directly in digital assets for the first time. This is reported by Bloomberg, UNN writes.
Details
According to the publication, the main digital currency rose by 6.2% to $47,007, the largest intraday increase since November 15. It is noted that this is the first increase above $47 thousand for the first time since April 2022.
The publication cites the reason for this growth as the fact that US regulators are ready to approve exchange-traded funds that invest directly in digital assets for the first time.
It is noted that last year, bitcoin grew by almost 160% in anticipation of the US Securities and Exchange Commission's approval of the applications. In November 2021, the token reached an all-time high of almost 69 thousand US dollars.
"Bitcoin's strengthening is almost a response to the very high probability that we will see a spot ETF approval this week," said Greg Moritz, co-founder and COO of crypto hedge fund Alt Tab Capital.
In addition, other small cryptocurrencies have risen in price: Ethereum grew by about 3.8%, while Cardano, Solana's SOL, and Polkadot grew by 7-9%.
Coinbase Global, the largest cryptocurrency exchange in the United States, grew by about 2.3%, while bitcoin miners Marathon Digital and Riot Platforms grew by more than 7%.
Recall
In December 2023 , the price of bitcoin reached $40 thousand for the first time since May 2022. This happened amid a general rise in cryptocurrency prices caused by several factors.