In a historic moment, the cryptocurrency Bitcoin reached the $45,000 mark on Tuesday, January 6, for the first time since April 2022, soaring to a 21-month high. This marks a 6 percent increase in value for Bitcoin, the world’s largest cryptocurrency.
The rally for Bitcoin continues as it remains strong, with a less than 1 percent increase on Wednesday. On January 3, the cryptocurrency reached an all-time high of $45,317.67, breaking its previous record set in 2022. The market for Bitcoin remains steady, with rates only 0.70 percent above the rate set at the start of the year.
As we wrap up the previous year and gear up for 2024, stay updated with the latest news and information on Bitcoin and the cryptocurrency market with HT. Additionally, India recorded a rate of ₹37,66.766.47 or $22454 for Bitcoin on Wednesday.
Other cryptocurrencies also experienced a surge in prices on January 2-3, with Ethereum rising 3.8%, Solana up over 7%, and Cardano increasing by more than 5%. This upward trend in the crypto market is expected to continue throughout the week.
One of the main reasons for the increase in prices is the possibility of the US Securities and Exchange Commission (SEC) approving the launch of a Bitcoin spot Exchange-Traded Fund (ETF). The decision is expected to be announced by the SEC in January, with reports stating that it may come as early as this week on Wednesday or Thursday.
However, the SEC has previously rejected applications for Bitcoin spot ETFs, citing concerns about market manipulation. As the crypto market continues to buzz over the next few months, the decision of the SEC will be a major determining factor.
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