Bitcoin remains bullish and close to reaching a new all-time high

Prices of major cryptocurrencies on the market have skyrocketed in recent days. Bitcoin managed to cross the $71,000 per unit mark and is on track to hit a new all-time high in the coming days. This coincides with positive investor sentiment regarding the possible approval of Ethereum Exchange Traded Funds (ETFs) by the Securities and Exchange Commission (SEC).

Crypto market analysts believe that the momentum recorded in the last few hours was led by Ethereum after it was announced that Ether ETFs were highly likely to be approved in the United States. The price of Bitcoin has remained stable and continues its upward trend, with some experts predicting that the digital currency will surpass the all-time high reached in the first quarter of 2024.

Although the debate about whether its use is convenient or not is becoming hotter every day, Bitcoin is trading today at 09:00 (UTC) at $71,192.75, representing a change of 7.26%.

relative to the last 24 hours and deviation 0.02% relative to its value achieved over the last hour.

In terms of market capitalization, it maintained its position No. 1 among cryptocurrencies.

Bitcoin, the first cryptocurrency released to the market, was created by Satoshi Nakamoto (pseudonym) in 2008 after the financial crisis that hit the world; This digital currency promoted a libertarian ideal and sought to challenge traditional monetary and financial institutions.

Known in the world of markets by the abbreviation BTC, Bitcoin uses cryptography to make sure your management is decentralizedthat is, it cannot be regulated by any banking institution or authority, which in turn makes cryptocurrencies unstable.

Despite the progress and adoption of Bitcoin and other major digital assets such as Ethereum, organizations such as World Bank, International Monetary Fund (IMF) and Inter-American Development Bank (IDB) They remain skeptical about the “pros” of this type of cryptocurrency.

Despite the skepticism, there are those who have opted for Bitcoin: El Salvador became the first country to accept Bitcoin. cryptocurrency as legal currency on June 9, 2021, and Honduras Prospera, a special autonomous zone of Central America, has also done the same.

It’s March 12th Bitcoin hits new all-time high

surpassing previous values ​​and re-establishing itself as the most important cryptocurrency on the market, approaching 73 thousand dollars. This record was achieved against the backdrop of an unprecedented flow of investment into cryptocurrencies, which is a notable development for the digital financial sector.

The increase in the value of Bitcoin comes amid a massive influx of capital into cryptocurrencies, indicating growing investor interest and confidence in these assets. Rising prices not only benefit Bitcoin, but also have positive impact on the cryptocurrency market overall, preferring greater stability and transparency, according to the analysis Bloomberg.

Experts have financed this increase due to various factors such as the institutional adoption of cryptocurrencies, the search for investment alternatives due to global economic uncertainty, and continued innovation in the blockchain technology that underpins Bitcoin and other digital currencies. This combination of factors created conditions conducive to continuous growth in the value of Bitcoin.

For their acquisition and exchange they are used specialized portals. Its value varies depending on supply, demand and miners’ commitments, so it can change faster than traditional money, but the more people are interested and want to buy a certain currency, the higher its value will be.

However, those who invest in this type of digital asset must clearly understand that this form carries a high risk for capitalWell, just as there can be an increase, it can also crash unexpectedly and wipe out the savings of its users.

To store them, users need to have digital wallet or purse, which is actually software that allows you to save, send, and transact with cryptocurrencies. In reality, this type of wallet only stores the keys that denote a person’s ownership of a particular cryptocurrency, so it is these codes that really need to be protected.