Around a year ago, the price of the best-known digital currency had fallen to almost $15,000. Now it has risen significantly again. A decision from the US Securities and Exchange Commission is eagerly awaited.
Bitcoin continued its rally over the weekend by breaking above $40,000. Early on Monday morning, a Bitcoin on the Bitstamp trading platform cost 41,343 dollars (38,083 euros), around three and a half percent more than the day before. With the price jump over the weekend, Bitcoin now has a market value of more than $800 billion.
Around a year ago, the Bitcoin price had fallen to almost $15,000. At that time, among other things, turbulence on the crypto market in connection with the crypto exchange FTX triggered a price collapse. In the eyes of many investors, Bitcoin’s image problem has now apparently been resolved. However, the world’s largest and best-known cryptocurrency is still a long way from its record high of around $69,000 in November 2021.
Digital currencies have been benefiting from the prospect of Bitcoin-based ETF funds being approved in the US for a while now. Experts believe that approval by the US Securities and Exchange Commission is quite likely at the beginning of the new year. Such a move would boost demand for Bitcoins, the world’s largest and best-known digital currency. However, if there is no approval, the Bitcoin price is likely to come under pressure again.
Source: Stern
