Bitcoin rose above $48,000 yesterday, reaching its highest level since the beginning of the year.
Earlier today (March 29) at 2:40 a.m. ET, Bitcoin rose 6.09% to $48,086.84 before easing back to currently trade at $47,475.63.
The rally has sent Bitcoin up 2% since the beginning of the year, reaching its highest level since December 31, 2021.
Analysts explained that with the beginning of the introduction of regulations on cryptocurrency trading, investors’ confidence in investing in digital assets has increased.
Bitcoin is also being ordered by institutional investors. Meanwhile, BlackRock, the world’s largest asset management company, said the Russian-Ukrainian war has boosted the adoption of cryptocurrencies.
Bitcoin reached an all-time high near $69,000 in November 2021 before crashing below $33,000 on January 24, 2022.
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Tuesday, March 29, 2022