Bitcoin's impressive rally in 2024, with a new record of more than $69,000, driven by factors such as demand for exchange-traded funds (ETFs) in the US and the anticipation of a reduction in the growth of their supply, known as "halving". The approval of Bitcoin ETFs by the United States Securities and Exchange Commission (SEC) has been a crucial factor in this rise, improving Bitcoin's accessibility to the mass market and marking a turnaround after a difficult 2022 for the crypto sector. The article also addresses the historical context of Bitcoin, recalling its previous high in November 2021 and the subsequent bear market, exacerbated by crises in the sector such as the fall of FTX. Finally, the role of large financial institutions, such as BlackRock, in the recent push for Bitcoin is highlighted, signaling a growing institutional adoption of cryptocurrencies. 0605586443#CRIPTOBOX#cryptomining #Bitcoin
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.See T&Cs.