Bitcoin continued to grow and reached 44000 today
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Bitcoin continued to grow and reached $44,000 today

The largest cryptocurrency by capitalization, Bitcoin, continues to gain momentum, surpassing $44,000 on Tuesday for the first time since April 2022 and rising more than 160% in price for the year. In turn, the price of the second-largest cryptocurrency Ethereum (ETH) rose 1.6% to $2,263.76 after rising 88% year-to-date.

    Image source: Kanchanara/unsplash.com

Image source: Kanchanara/unsplash.com

According to Coin Metrics, Bitcoin briefly rose to $44,903.45, its highest level since April 7, 2022. At the beginning of November, the price of Bitcoin was at $34,000, and last weekend it rose to $40,000 and a day later to $41,000.

The key driving force behind Bitcoin’s rise, which began this summer, was investor confidence that a spot Bitcoin exchange-traded fund (ETF) would be launched in the United States. Investors’ optimism was further boosted by reports that potential Bitcoin ETF issuers were meeting with the US Securities and Exchange Commission.

The Bitcoin ETF is expected to receive the green light in early 2024, which will signal an influx of new investments into the cryptocurrency. As Bitcoin continues to gain momentum, its market capitalization already exceeds the assets of some of the world’s largest companies.

“Bitcoin has risen above Berkshire Hathaway, overtaking Tesla and some of the largest companies in the world.written down TheStreetCrypto analyst George Tung, – Then meta is bypassedthen NVIDIA and then the silver market

Investors are also waiting for the Bitcoin halving, which is expected to take place in spring 2024.

About the author

Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

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