Cryptocurrencies | Bitcoin: how the price of the main cryptocurrency is changing as of February 15

Add and continue for Bitcoin. The main cryptocurrency on the market this Thursday rose 1.5% to 52,480 euros and exceeds its highs reached in December 2021. Popular cryptocurrency accumulates growth of 24.5% and over the last twelve months 113%.

Bitcoin’s rise in recent days confirms it capitalization over a trillion dollars, with a trading volume of $37,000 million, well above the annual average of $20,000 million. Some analysts, such as Damian Nowiszewski of Citibank Europe, believe there are reasons for this. Bitcoin approaches $60,000

as it has resistance (recent highs at $58,000, $63,258 and $65,520 which are all-time highs).

Gold is losing popularity

Major gold exchange-traded funds (ETFs) have recorded outflows of 2.225 million euros this year, according to Bloomberg, while cryptocurrency flows continue to attract assets. The 10 approved Bitcoin spot ETFs have received combined inflows of €3.622 billion and record volume since their launch on January 11, according to Farside. On Tuesday, the exchange-traded fund BlackRock The Bitcoin company recorded net inflows of nearly $500 million, indicating investor appetite for the financial asset.

Bloomberg ETF analyst Eric Balchunas, however, doesn’t believe gold ETF investors are migrating en masse to Bitcoin ETFs. “But it’s more likely just a fear of missing out on stock dynamics

United States”.

In January, this approval did not cause a big increase in the price of Bitcoin, since it was news that investors were eagerly awaiting and was already reflected in the price of crypto assets. Caroline Bowler, chief executive of cryptocurrency platform BTC Markets, noted this Monday in an interview with Bloomberg TV that there are signs “growing movement of institutional money” to this asset key.

Nine days on the rise

Bitcoin has accumulated nine consecutive sessions of gains, a milestone it has not reached since January last year. At that time, it began to regain lost ground after falling due to the bankruptcy of the Terra USD stablecoin and the start of tightening interest rates to combat inflation. In 2022, Bitcoin experienced the worst year in its history, losing 65%.