The price of Bitcoin rose above $60,000 on February 28 for the first time since November 2021. This is proven by trade data.
As of 16:25, the exchange rate reached 60.6 thousand dollars (+6.3%). As of 16:45, the cryptocurrency rate was set at $60.2 thousand (+5.8%).
The price of the cryptocurrency has been rising for five consecutive days, gaining 17% during this time. Since the beginning of the year, growth has been 40 percent.
Bitcoin rose to $60,635 during trading, according to Coindesk. Its peak value in November last year was just over 69 thousand dollars. If growth continues, February could be the most successful month for Bitcoin since December 2020.
Analysts attribute the increase in rates to the intense demand for Bitcoin ETFs in the United States. Within two months, their total assets exceeded 300 thousand BTC. Market leaders predict that the price of Bitcoin could reach $100,000 by the end of 2024.
Following Bitcoin, other cryptocurrencies are also growing. Ethereum is trading above $3,300 for the first time since May 2022. The capitalization of the crypto asset market exceeded $1.6 trillion.
Former crypto expert saidIs it worth selling bitcoin after a sharp increase in price?
Russians before warned About the dangerous properties of Bitcoin.
What are you thinking?
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.