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Category Archives: Bitcoin

Bitcoin Reaches Record High of $69,000, Recovering from 2022 Meltdown – The New York Times

Posted: March 10, 2024 at 5:54 am

Bitcoin hit a record high of more than $69,000 on Tuesday, capping a remarkable comeback for the volatile cryptocurrency after its value plunged in 2022 amid a market meltdown.

Bitcoins price has risen more than 300 percent since November 2022, a resurgence that few predicted when the price dropped below $20,000 that year. Its previous record was just under $68,790 in November 2021, as crypto markets boomed and amateur investors poured savings into experimental digital coins.

The cryptocurrency was pronounced dead for the 150th time, said Cory Klippsten, the chief executive of Swan, a financial services firm focused on Bitcoin. And Bitcoin continues to do what Bitcoin does, which is win people over as they take the time to actually learn about it.

Bitcoins recent surge has been driven by investor enthusiasm for a new financial product tied to the digital coin. In January, U.S. regulators authorized a group of crypto companies and traditional finance firms to offer exchange-traded funds, or E.T.F.s, which track Bitcoins price. The funds provide a simple way for people to invest in the crypto markets without directly owning the virtual currency.

As of last week, investors had poured more than $7 billion into the investment products, propelling Bitcoins rapid rise, according to Bloomberg Intelligence.

The price of Ether, the second-most-valuable digital currency after Bitcoin, has also risen more than 50 percent this year, reaching about $3,800. Its increase has been driven partly by enthusiasm over the prospect that regulators may also approve an E.T.F. tied to Ether.

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Bitcoin Reaches Record High of $69,000, Recovering from 2022 Meltdown - The New York Times

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Is Bitcoin headed for $100k? What it could mean for US dollar. – IG

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Is Bitcoin headed for $100k? What it could mean for US dollar.  IG

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Bitcoin Rallies To Record $70K, Prompts Coinbase Upgrade; BlackRock To Add BTC Exposure To $17.83 Billion Fund – Investor’s Business Daily

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Bitcoin Rallies To Record $70K, Prompts Coinbase Upgrade; BlackRock To Add BTC Exposure To $17.83 Billion Fund - Investor's Business Daily

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What Is Bitcoin ‘Halving’ and Does It Push Up the Cryptocurrency’s Price? – Bloomberg

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What Is Bitcoin 'Halving' and Does It Push Up the Cryptocurrency's Price?  Bloomberg

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What Is Bitcoin 'Halving' and Does It Push Up the Cryptocurrency's Price? - Bloomberg

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What to Know About Bitcoins Record High in Latest Crypto Surge – The New York Times

Posted: at 5:53 am

Cryptocurrency enthusiasts celebrated on Tuesday, as the price of Bitcoin reached a record high of more than $69,000. For believers, it was a moment of vindication after a 2022 industry downturn that sent several major companies into bankruptcy and tainted cryptos reputation.

But is crypto really back from the dead? While the numbers suggest the industry is starting to thrive again, there are major differences between this bull run and the euphoria that drove crypto prices to previous highs.

Heres what to know about the new crypto surge.

The last time Bitcoin hit a record was November 2021, as cryptocurrencies became a cultural phenomenon. Crypto executives hung out with celebrities, and their companies conducted giant marketing campaigns featuring Super Bowl commercials.

Prices crashed in the spring of 2022 as some of the most prominent crypto firms were exposed as frauds. People who had poured their savings into crypto lost everything. The decline culminated in November 2022 when the FTX crypto exchange, founded by Sam Bankman-Fried, collapsed after the equivalent of a bank run, costing customers $8 billion.

Since then, Bitcoin has been on a tear. After hitting a low of roughly $16,000 after FTXs implosion, the virtual currencys price has soared to $69,000.

A major turning point for the crypto industry arrived in August when a court ruling paved the way for financial firms to offer new investment products tied to the price of Bitcoin. The products, called exchange-traded funds, or E.T.F.s, gave investors a way to dabble in cryptocurrencies without owning them directly.

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What to Know About Bitcoins Record High in Latest Crypto Surge - The New York Times

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SEC’s Gensler says crypto ‘rife with abuses and fraud’ as bitcoin surges to new all-time record – Yahoo Finance

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SEC's Gensler says crypto 'rife with abuses and fraud' as bitcoin surges to new all-time record  Yahoo Finance

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SEC's Gensler says crypto 'rife with abuses and fraud' as bitcoin surges to new all-time record - Yahoo Finance

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Rich Dad Poor Dad Author Robert Kiyosaki: Bitcoin ‘on Fire’ BTC Headed for $300K This Year Markets and Prices … – Bitcoin.com News

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Rich Dad Poor Dad Author Robert Kiyosaki: Bitcoin 'on Fire' BTC Headed for $300K This Year Markets and Prices ...  Bitcoin.com News

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Rich Dad Poor Dad Author Robert Kiyosaki: Bitcoin 'on Fire' BTC Headed for $300K This Year Markets and Prices ... - Bitcoin.com News

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Bitcoin can top $150000 in the next 12-18 months, says Fundstrat’s Tom Lee – CNBC

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Tom Lee, Fundstrat Global Advisors managing partner and head of research, joins 'Squawk Box' to discuss the latest market trends, potential troubles facing the tech sector, the latest bitcoin rally, and more.

08:13

Thu, Mar 7 20248:58 AM EST

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Bitcoin can top $150000 in the next 12-18 months, says Fundstrat's Tom Lee - CNBC

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Is This The Real $90 Trillion Reason Behind BlackRocks Huge Bitcoin ETF Flip That Triggered The Price Boom? – Forbes

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Is This The Real $90 Trillion Reason Behind BlackRocks Huge Bitcoin ETF Flip That Triggered The Price Boom?  Forbes

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Bitcoin’s Test of All-Time Highs Means Old Miners Are Cashing Out – CoinDesk

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Bitcoin's Test of All-Time Highs Means Old Miners Are Cashing Out  CoinDesk

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