Bitcoin reaches new heights, crosses $64,000

Bitcoin reached a two-year high on March 4, 2024, crossing the $64,000 level. Bitcoin posted a value of $64,285 which is expected to be its highest since late 2021, and was last 2% firmer for the session at $63,850. Bitcoin’s record high is $68,999.99 set in November 2021.

The cryptocurrency market value gained about 50% this year and most of the rise come in the last few weeks where trading volume has surged for the United States (US) listed bitcoin funds, as per insights from Reuters.

Industry experts believe that the approval of Spot bitcoin exchange-traded funds in the United States earlier this year has opened the way for new large investors. This is believed to have brought back the enthusiasm of crypto players.