Friday, March 1, 2024

Bitcoin Tops $40,000 for First Time Since May 2022

Bitcoin continued its upward trend, surpassing $44,000 for the first time since April 2022.

The flagship cryptocurrency gained over 4% to reach $43,794.99, extending its previous day’s gains.

Bitcoin’s price briefly touched $44,903.45, marking its highest level since April 7, 2022. This surge brings bitcoin’s year-to-date gains to over 160%.

The optimism surrounding the potential approval of a spot bitcoin exchange-traded fund (ETF) in the U.S. has been a key driver of bitcoin’s recent rally.

Reports of meetings between potential bitcoin ETF issuers and the U.S. Securities and Exchange Commission have fueled investor confidence.

Many anticipate the approval of a bitcoin ETF in early 2024.

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