Bitcoin rises above the 40,000 dollar mark again
Following its brutal crash, the digital currency Bitcoin has almost tripled in value within a year. Apparently, many investors' concerns about the image problem have given way to confidence. One reason for this is probably the prospect of the approval of corresponding ETF funds.
Bitcoin continued its rally at the weekend by jumping above the USD 40,000 mark. In the early morning, one Bitcoin cost 41,343 dollars (38,083 euros) on the Bitstamp trading platform, 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 dollars again.
Around a year ago, the price had fallen to almost 15,000 dollars. At that time, turbulence on the crypto market in connection with the FTX crypto exchange, among other things, had triggered a price collapse. However, the image problem of Bitcoin has apparently been resolved in the eyes of many investors. However, the world's largest and best-known cryptocurrency is still a long way from its record high of around USD 69,000 in November 2021.
Digital currencies have been benefiting for some time from the prospect of the approval of Bitcoin-based ETF funds in the US. Experts believe that approval by the US Securities and Exchange Commission at the beginning of the new year is quite likely. Such a step would boost demand for bitcoins, the world's largest and best-known cryptocurrency. However, if there is no approval, the Bitcoin price is likely to come under pressure again.
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Bitcoin's strong performance has also attracted interest in related investment products, such as ETFs. For instance, the prospect of Bitcoin ETF approval in the US has been a key factor driving up the value of cryptocurrencies, including Bitcoin. As Bitcoin surged past the 40,000 dollar mark, investors are keenly watching for any news regarding the potential approval of Bitcoin ETFs, which could further boost the price of this popular cryptocurrency.
Source: www.ntv.de
