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Bitcoin exceeds US$57,100, its highest level since December 2021

Bitcoin exceeds US$57,100, its highest level since December 2021

He bitcointhe most used cryptocurrency, surpassed US$57,100 this Tuesday, its highest level since the end of December 2021, during a day of oscillations.

After the closing of Wall Street, at 5:00 p.m. local time in New York (22:00 GMT), bitcoin lost the level of US$ 57,000 that it reached last morning and was below US$ 56,800.

Since last January 23, when it fell to US$38,500, the price of the cryptocurrency has risen 48.4%.

According to cryptoasset expert analyst at investment platform eToroSimon Peters, the price rise comes after a week of consolidation, which could be due to a slowdown in the amount of bitcoins acquired by spot ETFs compared to previous weeks.

Since last February 14, the increases that bitcoin is registering seem to respond, according to experts, to the entry of institutional investors into the market following the decision of the SEC, the United States stock market supervisor, to authorize the creation of funds ETFs linked to the spot price of this cryptocurrency.

XTB analyst Manuel Pinto has explained that bitcoin is trading higher in the face of a positive medium-term environment, given investor appetite for exchange-traded funds that replicate its price.

Another element that is driving the price is the “halving” (the reduction by half of the reward that the “miners” of this cryptocurrency) which, according to the expert, will take place “in just a few weeks”.

Source: Gestion

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