Bitcoin has been going strong in the last few months and now it has crossed the previous records after jumping 2.5% today and priced at $69,000.
This is also the highest for BTC since 2021 when it was priced at $65,000. Shortly after the record-breaking surge, it plunged down by 14% to $59,317.16.
One of the reasons for this surge has been the American market that saw an increase in demand after the introduction of the new exchange-traded funds (ETF). Another reason is its decreased supply in the market.
Bitcoin regained its position in the market in 2023 after a very poor 2022, with prices going as low as $13,000. The blockchain-based currency is now valued at $2.6 Trillion which is expected to only increase in the future.
The growth of Bitcoin and investment from firms like BlackRock suggests a brighter future with better accessibility and acceptance for digital currencies based on the same concept.
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