The well-known virtual currency Bitcoin recently reached an all-time high, surging above $70,000 during a frenzied trading session. This increase coincides with investors’ rising obsession with cryptocurrency.
The demand for new U.S. exchange-traded cryptocurrency products surged, and there were anticipation that interest rates may drop globally, which contributed to the sharp increase in the price of Bitcoin.
It fell back from $70,105 for a short while, but it is currently trading at roughly $68,317.72. Increased investment in Exchange-Traded Funds (ETFs) has been observed in recent weeks, in part due to an update to the Ethereum blockchain and the impending bitcoin “halving” event in April.
As a result of their potentially erratic value, several experts continue to advise against investing in cryptocurrencies. Investors were reminded of the hazards when the price of Bitcoin dropped by 10% and dropped below $60,000.
Bitcoin Breaks All Records! Rises for the First Time to Over $70,000.
