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Bitcoin Surges Past $45K Amid ETF Buzz
January 3, 2024
Bitcoin’s Roaring Start to the Year
Bitcoin leaped into the new year with remarkable energy, vaulting over the $45,000 mark for the first time since last spring. Investors were abuzz with talk that the U.S. Securities and Exchange Commission might finally give the nod to a spot bitcoin Exchange-Traded Fund (ETF), an idea that set the scene for the cryptocurrency’s value to soar, doubling in just the past year. Even with these gains, bitcoin’s dazzling peak of $69,000 from 2021 remains unbeaten.
Wider Ripples in the Crypto Pond
With the winds of potential approval for a bitcoin ETF, the broader cryptocurrency market caught the fever. Shares in crypto giants like Coinbase, Riot Platforms, and Marathon Digital all got a lift, illustrating how even the whiff of regulatory nods can send related industries skyward. It’s clear that as bitcoin moves, it pulls a whole world of crypto-tied stocks along with it.
Deeper Currents in Bitcoin’s Surge
Investing maestro Jason Appel chimed in on the recent uptick, suggesting there’s more to the rally than just buzz over the SEC’s decision. His take? A look at bitcoin’s chart showed signs of an upswing on the horizon, even without the ETF approval. Appel’s analysis taps into the sentiment that bitcoin’s rise isn’t just a flash in the pan—it’s rooted in a solid belief by investors in the cryptocurrency’s long-term potential.