On November 10, 2021, Bitcoin reached its highest value ever: $69,040.10. Cryptocurrency (and NFTs) fever then reached historic highs and then dropped for a long period of time throughout 2022, with 2023 being a very slow and hopeful one. Now, two and a half years later, Bitcoin is breaking records again.

Bitcoin is above $69,100. The cryptocurrency had been threatening to break through the psychological barrier represented by the previous record for several days, and now it has achieved it. Approximately 17:20 CEST According to CoinMarketCap, one Bitcoin is worth: $69,170.63surpassed what was achieved in the previous record.

Unstoppable growth (for now). The last few months have been very eventful for cryptocurrency; Its value hovered around $30,000 for most of last year, with little change. However, there were many events that left their mark on these increases.

ETFs. First, Bitcoin-based exchange-traded funds will be approved in early January 2024. These financial mechanisms make it much easier for investors to access such digital assets. The approval, which had been pursued for months, was controversial (regulators were almost forced to do so) and although its impact initially appeared to be zero, its value soon began to gain ground.

halve. The second is the halving, which will further increase the value of the currency by halving the reward given to bitcoin miners. The rarer a good becomes, the more its value increases, and halving is a mechanism precisely designed to achieve this effect in Bitcoin, which has a limited number of coins that can be mined. 21 million in total, 19.3 million of which are already in circulation. The last bitcoin is expected to be mined in 2040.

What about this now? Surpassing the all-time high (ATH) is a unique milestone for cryptocurrency enthusiasts, who have been arguing for some time that Bitcoin’s value has increased even faster with similar achievements in the past. Overly optimistic predictions follow one another, and Hunter Horsley, CEO of Bitwise, one of the issuers of Bitcoin-based ETFs, for example, said: marked how bitcoin will reach $250,000 very soon these days? Other experts and organizations, such as the European Central Bank, remain highly skeptical and argue that Bitcoin’s value is (or should be) zero.

To be careful. great care. As always, this is impossible to guarantee and as always at Xataka we caution you that this news is not financial advice in any way. Experts from CoinDesk note that these increases and the new record could once again cause a dangerous fever for cryptocurrencies, for example, encouraging crypto loans that could end in real tragedies or causing social networks to be flooded with messages encouraging users to invest. very late. It’s happened before, and it ended in disaster: Let’s remember NFTs.

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in Xataka | Bitcoin’s market value exceeded $1 trillion. It is already the tenth most valuable asset in the world