Bitcoin Price Surges, Breaking Records

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On March 4th, 2024, the price of Bitcoin (BTC) surpassed $65,000, according to data from Coindesk and Binance.

At the time of writing, it was trading at $65,160. This is the highest price BTC has reached since November 2021, when it hit an all-time high of $69,000.

The Securities and Exchange Commission (SEC) approved the listing of 11 Bitcoin-linked Exchange-Traded Funds (ETFs) on January 11, 2024.

These ETFs offer investors an alternative way to gain exposure to BTC without directly owning the cryptocurrency.

In early February, Bitcoin’s price rose above $50,000 for the first time since December 2021. The surge was fueled by anticipation of a “halving” event, a scheduled reduction in the rewards that miners receive for processing transactions.

The next halving is set to occur in April 2024, and it will reduce the block reward from 6.25 BTC to 3.125 BTC. Some analysts believe that this event could drive the price up to $100,000.

Historical Halvings

  • November 2012
  • July 2016
  • May 2020

The price of Bitcoin has historically experienced significant volatility, and it is important to note that the cryptocurrency market is highly speculative. Investors should exercise caution and conduct their own research before making any investment decisions.

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