Since October 2021, the Bitcoin rise has resulted in the biggest monthly gain for the cryptocurrency.
The summary
In London, at 8:50 a.m. on Wednesday, the price of bitcoin reached $59,053, representing a rise of up to 4.1%. Since the beginning of February, it has increased on all but eight trading days, resulting in a 39% increase for the month.
The most prominent cryptocurrency, Bitcoin, has climbed for the sixth consecutive day, putting it on course to achieve its largest monthly increase since October 2021 was recorded.
In London, at 8:50 a.m. on Wednesday, the price of bitcoin reached $59,053, representing a rise of up to 4.1%. Since the beginning of February, it has increased on all but eight trading days, resulting in a 39% increase for the month.
Despite the fact that there were fears that the Federal Reserve would maintain higher interest rates for a longer period of time, a frenzy of purchasing has been pushed by the debut of spot Bitcoin exchange-traded funds in the United States at the beginning of January. The next "halving" of Bitcoin is scheduled to take place in April, and crypto bulls are becoming more optimistic that the token may soon surpass the record of roughly $69,000 that it now holds, which it reached in November 2021.
According to Matthew Sigel, who is the head of digital asset research at VanEck Associates, "We are seeing evidence of elevated interest from both retail and institutional investors who are looking to get exposure to digital gold." Given the past, it seems that even more intense and deadly demonstrations are on the horizon.