2024-02-12 19:16:00
Around 6:30 p.m., the price of the most followed cryptocurrency rose 5.4% to $50,145.31, following peaking earlier in the session at $50,327.56, a high in more than two years. It has gained nearly 18% since the start of the year, and has soared by more than 200% since January 2023.
Since the start of last year, the value of bitcoin has therefore tripled. The dramatic price fluctuations since its introduction more than a decade ago have long been the main attraction for investors. Recent increases have been driven primarily by hopes that the currency will soon become more mainstream. Indeed, last month, Washington decided to allow exchange-traded funds to hold bitcoin directly.
The cryptocurrency thus benefits from the return of the positive effect of the launch of a new investment product, a bitcoin index fund (ETF) which directly tracks the price of the digital asset.
Highly awaited by the sector, analysts expected that this new type of investment would allow a larger part of the general public to invest in this cryptocurrency without having to hold it directly.
The cryptocurrency reached its peak in November 2021, when it was worth $69,000.
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