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Bitcoin continues to rise (yet once again). This isn’t the first time that we have watched it going upward. If you have read our previous blogs, then you must checked how we predicted the rise of Bitcoin and yes, it seems to be coming true. But what remains the real question is why is it going upwards. Find out more in this blog.
Why Is Bitcoin Continues To Rise?
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The Bitcoin continues to rise also comes from the overall sensation around cryptocurrency as a whole. It seems that more and more people have started to come out for cryptocurrency. With the ever so increase in the awareness of cryptocurrency, more and more people are interested in cryptocurrency. Bitcoin continues to rise (yet once again). This isn’t the first time that we have watched it going upward. If you have read our previous blogs, then you must checked how we predicted the rise of Bitcoin and yes, it seems to be coming true. But what remains the real question is why is it going upwards.
In the wake of the SEC’s approval of the first US spot bitcoin ETFs, the world’s oldest cryptocurrency has been on the tear, rising more than 42% year to date and jumping from under $50,000 at the time of approval to more than 60,000 today. Right now, bitcoin has reached its all-time high.
Another primary reason for Bitcoin’s rise seems to be the very prediction that the US Securities and Exchange Commission (SEC) will approve the launch of the spot Bitcoin exchange-traded fund (ETF)
The US Securities and Exchange Commission has rejected multiple applications to launch the spot bitcoin ETFs in recent years and has argued many times that the cryptocurrency market is very vulnerable and fragile.
Should We Invest In Bitcoin
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While it might seem an exciting time to invest in Bitcoin, it must be noted that Bitcoin has earlier seen many leaps and bounds. This isn’t the first time that investors have met with something like this. While it’s looking more and more like Bitcoin continues to rise, other factors like geopolitical factors, economic indicators, and crypto regulations must be kept under priority. Many seasonal investors are aware of times like these. Furthermore, it holds for this market environment.
n the wake of the SEC’s approval of the first US spot bitcoin ETFs, the world’s oldest cryptocurrency has been on the tear, rising more than 42% year to date and jumping from under $50,000 at the time of approval to more than 60,000 today. Right now, bitcoin has reached its all-time high.
Another primary reason for Bitcoin’s rise seems to be the very prediction that the US Securities and Exchange Commission (SEC) will approve the launch of the spot Bitcoin exchange-traded fund (ETF)
Conclusion
The bottom line remains that Bitcoin has seen many highs and lows. With its extra resilient nature, it has seen more highs than lows. Its resilient and path-breaking performance has instilled more belief in crypto enthusiasts. It would be no lie to say that it is also because of Bitcoin that people know cryptocurrency.
While it might seem an exciting time to invest in Bitcoin, it must be noted that Bitcoin has earlier seen many leaps and bounds. This isn’t the first time that investors have met with something like this. While it’s looking more and more like Bitcoin continues to rise, other factors like geopolitical factors, economic indicators, and crypto regulations must be kept under priority. Many seasonal investors and other people are aware of times like these. Furthermore, it holds for this market environment.
Read Our Article: Bitcoin to 100k in 2024
Also Read: Crypto Market Analysis and Predictions
