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Record level: bitcoin reaches a new mark of $72 thousand

By: Mykhailo Stoliar | 12.03.2024, 08:45

Bitcoin has reached more than $72,000, and the demand for cryptocurrency is only growing.

Here's What We Know

Bitcoin rose by 4.4% to USD 72,649 after reaching USD 72,739. The cryptocurrency grew thanks to the flow of cash into new spot bitcoin exchange-traded funds and hopes that the Federal Reserve will soon cut interest rates.

Bitfinex analysts note that the rise in the value of bitcoin demonstrates the strength and resilience of this cryptocurrency. In addition, when demand increases, it means that the overall market confidence in this asset also increases.

However, a hilting event is expected in April, during which the number of new bitcoins entering circulation will decrease. This is another reason to support the price.

Source: Reuters

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