Bitcoin Price Hits $68,000, Near Record High

CONSENSUSG.COM Written by Reananda Hidayat Permono Completed Master of Science - MS, Petroleum Geology from Curtin University, Perth, Australia. Written by Reananda Hidayat Permono Completed Master of Science - MS, Petroleum Geology from Curtin University, Perth, Australia.

Bitcoin price continued its rapid resurgence and went close to breaking its all-time high as it climbed 8% to $67,310 on Monday.

The current price was well above its $44,000 valuation at the start of 2024 and $2,000 away from surpassing its record high of $69,000 in November 2021.

It’s believed that bitcoin demand is rocketing due to bitcoin exchange-traded funds (ETFs).

Experts said ETFs have allowed investors to play crypto in a less risky way than before and attracted a huge flow of cash.

Joel Kruger, a market strategist at LMAX Group explained investors are interested in bitcoin price as it can be treated as an uncorrelated asset.

ETF allows investors to earn direct exposure to bitcoin without even holding it. In January, the U.S. Securities and Exchange Commission approved the sale of spot bitcoin ETFs.

Hence, investors have deposited around $7.35 billion into 11 different available funds. Some large institutional investors in the world, including Fidelity Investments and BlackRock, offer spot bitcoin ETFs now.

Bitcoin price rally started months before 2023 as its price increased to a 19-month high in December to around $41,000. However, bitcoin’s ongoing price rally doesn’t make it any less volatile.

“It’s still volatile and there’s a lot of people who will always trade it,” investing correspondent at Insider Laila Maidan explained.

Bitcoin Price Hits $68,000, Near Record High

Bitcoin price continued its rapid resurgence and went close to breaking its all-time high as it climbed 8% to $67,310 on Monday.

Bitcoin price continued its rapid resurgence and went close to breaking its all-time high as it climbed 8% to $67,310 on Monday.

The current price was well above its $44,000 valuation at the start of 2024 and $2,000 away from surpassing its record high of $69,000 in November 2021.

The current price was well above its $44,000 valuation at the start of 2024 and $2,000 away from surpassing its record high of $69,000 in November 2021.

It’s believed that bitcoin demand is rocketing due to bitcoin exchange-traded funds (ETFs).

It’s believed that bitcoin demand is rocketing due to bitcoin exchange-traded funds (ETFs).

Experts said ETFs have allowed investors to play crypto in a less risky way than before and attracted a huge flow of cash.

Experts said ETFs have allowed investors to play crypto in a less risky way than before and attracted a huge flow of cash.

Joel Kruger, a market strategist at LMAX Group explained investors are interested in bitcoin price as it can be treated as an uncorrelated asset.

Joel Kruger, a market strategist at LMAX Group explained investors are interested in bitcoin price as it can be treated as an uncorrelated asset.

ETF allows investors to earn direct exposure to bitcoin without even holding it. In January, the U.S. Securities and Exchange Commission approved the sale of spot bitcoin ETFs.

ETF allows investors to earn direct exposure to bitcoin without even holding it. In January, the U.S. Securities and Exchange Commission approved the sale of spot bitcoin ETFs.

Hence, investors have deposited around $7.35 billion into 11 different available funds. Some large institutional investors in the world, including Fidelity Investments and BlackRock, offer spot bitcoin ETFs now.

Hence, investors have deposited around $7.35 billion into 11 different available funds. Some large institutional investors in the world, including Fidelity Investments and BlackRock, offer spot bitcoin ETFs now.

Bitcoin price rally started months before 2023 as its price increased to a 19-month high in December to around $41,000. However, bitcoin’s ongoing price rally doesn’t make it any less volatile.

Bitcoin price rally started months before 2023 as its price increased to a 19-month high in December to around $41,000. However, bitcoin’s ongoing price rally doesn’t make it any less volatile.

“It’s still volatile and there’s a lot of people who will always trade it,” investing correspondent at Insider Laila Maidan explained.

“It’s still volatile and there’s a lot of people who will always trade it,” investing correspondent at Insider Laila Maidan explained.

Designed by Alexander Rabu

Designed by Alexander Rabu