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This amounts to approximately 36,000 francs. The cost of Bitcoin was approximately three and a half percent more than the previous day.
With the price increase over the weekend, Bitcoin’s market value is now over $800 billion. About a year ago, the Bitcoin price dropped to almost $15,000. At the time, turbulence in the crypto market in connection with, among other things, the crypto exchange FTX triggered the price crash.
The record level has not been reached yet
In the eyes of many investors, Bitcoin’s image problem now appears to have been resolved. But the world’s largest and best-known cryptocurrency is still a long way from its record high of $69,000 in November 2021.
Digital currencies have been benefiting from the possibility of Bitcoin-based ETF funds being approved in the US for some time now. Experts believe that approval from the U.S. Securities and Exchange Commission will most likely come at the beginning of the new year.
Such a move would increase demand for Bitcoin, the world’s largest and best-known digital currency. However, if the confirmation is not received, the Bitcoin price is likely to come under pressure again. (SDA/sak)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
