Investors’ willingness to put money into bitcoin was also supported last month by US regulatory authorities’ approval of exchange-traded funds (ETFs) to track its price.
At around 18:30 CET, according to the specialized CoinDesk server, bitcoin had increased by over five percent to $50,196 in the past 24 hours. It was the highest since December 2021.
“$50k is a significant milestone for bitcoin following the launch of spot ETFs last month not only failed to trigger a move above this key psychological level, but resulted in a 20 percent selloff,” Reuters quoted analyst Antoni Trenčev of cryptocurrency firm Nexo as saying.
Next to Bitcoin, ether, the second most widespread cryptocurrency, went up on Monday. At the same time, it strengthened by more than four percent and exceeded the price of $2,600.
The revival of the cryptocurrency market also helped the shares of the cryptocurrency exchange Coinbase, which add around five percent, and the shares of other companies linked to the cryptocurrency industry are also growing.
