Bitcoin has entered a new upward trend after reaching the brink of $49,000 on January 11 following the US Securities and Exchange Commission's (SEC) approval of exchange-traded fund (ETF) applications, and subsequently retreating.
TRADING AT 1 MILLION 370 THOUSAND TL
As of February 8, Bitcoin surpassed $44,000 and approached $45,000. At 11:45, Bitcoin is trading at $44,700 (approximately 1 million 370 thousand TL at the February 8 exchange rate).
Bitcoin reached this level from the $38,500 mark it tested on January 23.
MARKET MOVEMENT TRIGGERED BY ETHEREUM
The reason for the rise is the market movement triggered by Ethereum (ETH). The changes made by investment firms Ark Invest and 21Shares regarding their spot Ethereum ETF brought about a rise in the cryptocurrency market.
The new compliance update submitted by the companies to the SEC triggered significant increases in many assets, primarily Bitcoin.
Ethereum also reached levels of $2,400 with an increase of nearly 4 percent.
News Source: 12punto
