Bitcoin has been doing really well lately. It’s gone up by 55% this year already. A lot of people are investing their money in U.S. exchange-traded crypto products, and there’s a feeling that interest rates around the world might go down.
This has led to billions of dollars going into ETFs recently. Plus, there’s some good news about ethereum getting an upgrade and something called bitcoin “halving,” which slows down how much news the coin hasmade. All of this makes people feel more confident about it.
The U.S. Securities and Exchange Commission recently approved 11 spot bitcoin ETFs, which was a big deal for the industry. Before that, there was a tough time for cryptocurrencies, with lots of companies going bankrupt and some scandals. But now, even big investors who used to stay away from crypto are starting to put their money in for the long term.
Bitcoin’s success has also made other digital tokens, like ethereum, go up in value too. But some people still think these assets are risky because their value can go up and down a lot. After hitting a record high recently, it dropped by more than 10%.
Experts say this is typical for bitcoin – it can go up a lot, then suddenly go down again. But overall, it’s still not as high as it was before when you consider inflation. So, there’s a lot of excitement about the rise, but also some caution.
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