CONSENSUSG.COM

Bitcoin Price Hits $50,000, First Time in Two Years

Bitcoin Price Hits $50,000, First Time in Two Years

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

CONSENSUSG.COM

On Monday, the bitcoin price traded above the $50,000 price level for the first time in more than two years (December 2021).

On Monday, the bitcoin price traded above the $50,000 price level for the first time in more than two years (December 2021).

CONSENSUSG.COM

The move of the world’s top cryptocurrency triggered a rally for cryptos and related stocks. Hence, coin base stock and bitcoin ETFs surged, but bitcoin miner Marathon Digital (MARA) vaulted.

The move of the world’s top cryptocurrency triggered a rally for cryptos and related stocks. Hence, coin base stock and bitcoin ETFs surged, but bitcoin miner Marathon Digital (MARA) vaulted.

CONSENSUSG.COM

Bitcoin has gained almost 15% since the start of 2024, mostly driven by the US Securities and Exchange Commission reversing an old policy to approve some spot bitcoin exchange-traded funds.

Bitcoin has gained almost 15% since the start of 2024, mostly driven by the US Securities and Exchange Commission reversing an old policy to approve some spot bitcoin exchange-traded funds.

CONSENSUSG.COM

It offers investors exposure to the bitcoin price through a regulated product. Some of Wall Street’s big players have offered spot bitcoin ETFs, including the world’s largest asset manager BlackRock.

It offers investors exposure to the bitcoin price through a regulated product. Some of Wall Street’s big players have offered spot bitcoin ETFs, including the world’s largest asset manager BlackRock.

CONSENSUSG.COM

However, the bitcoin price fell around 15% in the days following the SEC’s approval.

However, the bitcoin price fell around 15% in the days following the SEC’s approval.

CONSENSUSG.COM

Analysts said the current condition presents evidence that the ETFs are bringing fresh money into the market. It also allows bitcoin to change its fate in the long run.

Analysts said the current condition presents evidence that the ETFs are bringing fresh money into the market. It also allows bitcoin to change its fate in the long run.

CONSENSUSG.COM

After the initial waves of inflows, asset managers are giving their best attention to the long-term investment case for bitcoin ETFs.

After the initial waves of inflows, asset managers are giving their best attention to the long-term investment case for bitcoin ETFs.

CONSENSUSG.COM

According to CoinShares, the newly approved bitcoin ETFs have gained roughly $3bn in net flows.

According to CoinShares, the newly approved bitcoin ETFs have gained roughly $3bn in net flows.

CONSENSUSG.COM

Optimism about the bitcoin price has increased amid expectations that central banks will lower their interest rates this year.

Optimism about the bitcoin price has increased amid expectations that central banks will lower their interest rates this year.

Designed by Alexander Rabu

Designed by Alexander Rabu