© Reuters.
NEW YORK – The value of bitcoin soared today, surpassing the $45,000 mark and reaching a peak of $45,488, as investors eagerly await the potential approval of an exchange-traded fund ( ETF) spot in the United States. Along with bitcoin, ether also saw a rise, reaching a value of $2,376. The surge in cryptocurrency prices follows the impressive performance of bitcoin last year, which increased in value by 154%.
The current wave of optimism in the markets is fueled by multiple factors. Investors are encouraged by the possibility that global monetary policies will become more accommodative. Additionally, they are looking forward to the next bitcoin halving event, a mechanism that reduces the reward for mining new blocks, thereby reducing the rate at which new bitcoins are put into circulation. Historically, this event tends to have a positive impact on the price of bitcoin.
The cryptocurrency market remains buoyant, even though the price of bitcoin remains below its record high of nearly $69,000. The prospect of a US spot ETF, which would provide direct exposure to bitcoin, is seen as an important step towards mainstream adoption of cryptocurrencies and is closely followed by market participants.
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