Bitcoin Surges Past $45,000 in 2024: A Promising Start for Cryptocurrencies
By Braden Hirschi
Published January 2, 2024
The year 2024 has witnessed a remarkable surge in the value of bitcoin, with the cryptocurrency surpassing the $45,000 mark. This notable achievement, not witnessed since April 2022, has sparked renewed interest and optimism in the cryptocurrency market.
Bitcoin's Soaring Value
Bitcoin, represented by BTCUSD, experienced a significant leap to reach $45,296 after concluding 2023 slightly above $42,500. This impressive surge is attributed to the growing anticipation surrounding the potential introduction of bitcoin exchange-traded funds (ETFs).
Revisiting Bitcoin's Performance
The cryptocurrency demonstrated exceptional growth throughout 2023, registering a remarkable 157% increase. This surge, driven by the prospect of bitcoin ETFs, reflects a promising outlook for the cryptocurrency market. Despite this remarkable progress, bitcoin still remains over 37% below its all-time high achieved in 2021.
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