Cryptocurrency markets have been caught in a storm in recent weeks. Bitcoin price exceeded $65,000 for the first time in more than 2 years, reaching its highest level since November 2021. It also exceeded the critical level of 2 million lira in Turkish Lira. This upward wave also affected Ethereum and the Ethereum price rose above $ 3,500. So, what lies behind this rise? What do the experts say?
Bitcoin price is on the rise
The rising wave in the cryptocurrency markets in recent weeks has brought Bitcoin to the top after 2 years. Bitcoin price exceeded $65 thousand today and reached its highest level since November 2021. In local stock exchanges, Bitcoin changed hands at 2 million 46 thousand TL. Experts state that the positive atmosphere in technology stocks and the increasing demand for Bitcoin ETFs are effective in this rise. Bitcoin’s halving process, which is expected to take place in April, is also among the factors that triggered the rise.
Bitcoin price reached its highest level of 65 thousand 110 dollars during the day. This figure was recorded as the highest level since November 2021. Bitcoin, which has gained 50 percent in value in the last 2 months, has increased its rise in the last 12 months to nearly 200 percent. Bitcoin reached its historical peak at $69 thousand in November 2021. With this rise, Bitcoin approached its peak level by 8 percent.
Cryptocurrency market revived
The rise of Bitcoin has also affected the entire cryptocurrency market. The total value of the crypto market has increased to $2.42 trillion. The 2 trillion limit was last exceeded in April 2022. Besides Bitcoin, Ethereum is also on the rise. Ethereum price rose above $3,500. Ethereum has gained 60 percent in value in the last 2 months.
Experts say that Bitcoin’s rise may continue, but investors should be careful. Experts emphasize that it should not be forgotten that Bitcoin is a volatile investment tool and its price may be subject to sudden fluctuations.
halving is approaching
cryptokoin.com As we reported, Bitcoin’s halving process, which is expected to take place in April, also attracts the attention of investors. Halving means Bitcoin’s production rate is halved. Experts state that the halving may trigger the Bitcoin price upwards.
Investing in cryptocurrency markets involves high risk. Investors should conduct detailed research and evaluate their risks carefully before investing. Bitcoin approaching its peak after 2 years created excitement in the cryptocurrency markets. Experts say that Bitcoin’s rise may continue, but investors should be careful.
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