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Bitcoin is currently trading above $72,000 – another record! The world’s oldest cryptocurrency broke its November 2021 all-time high ($69,000) last week – now the Bitcoin price is slowly approaching the 75,000 and 80,000 levels. The price record is no surprise: The price has been climbing at a record pace for weeks.
The crypto reserve currency has been driven by sustained inflows into exchange-traded ETFs since January, according to market watchers. There are currently more buyers than sellers for the financial product, causing the price to rise.
Ethereum is stepping on the gas
Another Bitcoin halving is also approaching in April. Halving reduces the reward Bitcoin miners receive for verifying crypto transactions. This further reduces the supply of new Bitcoin. The halving occurs every four years.
The price of the second largest cryptocurrency, Ethereum, has also experienced a sharp rise in the last few days. The currency posted a double-digit gain of almost 60 percent over the previous month and was trading around $4,000 as of Monday afternoon. Ether’s all-time high is a little further away, at $4,878.26.
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.
