Top Price Market
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

Top Price Market

Business

Bitcoin prices hit all-time high, soaring to nearly $69,000

by March 7, 2024
March 7, 2024
Bitcoin prices hit all-time high, soaring to nearly $69,000

The price of bitcoin hit an all-time high of about $68,800 Tuesday, surpassing the previous record reached in November 2021.

The cryptocurrency has gained approximately 50% in 2024, and has recovered more than 300% since hitting a post-pandemic low of about $16,500 in December 2022.

The latest rally is being fueled by hopes that the launch of bitcoin exchange-traded funds, or ETFs, will expand the pool of bitcoin buyers.

The Securities and Exchange Commission approved ETFs in January to make it easier for investors to gain exposure to the price movements of bitcoin as part of diversified portfolios without having to go through the sometimes-onerous process of owning the digital coins themselves.

The ETFs have collectively already attracted billions of dollars of investments.

The cryptocurrency world is also banking on a price rally coming after a technical event known as ‘halving’ occurs in April. That causes the rate of supply of new bitcoin to decline. So if demand remains unchanged or even grows, the price goes up.

Bitcoin remains highly controversial, and many mainstream investment experts and market regulators urge caution about investing in it. For instance, SEC Chair Gary Gensler said the agency’s ETF approvals were not an endorsement of bitcoin, calling it a “speculative, volatile asset.”

And in a blog post in January, executives at the financial giant Vanguard echoed that view, saying cryptocurrencies like bitcoin are ‘more of a speculation than an investment,’ which is why the company does not offer crypto products.

‘With equities, you own a share of a company that produces goods or services, and many also pay dividends,’ Vanguard said. ‘With bonds, you get a stream of interest payments. Commodities are real assets that meet consumption needs, have inflation-hedging properties, and can play a role in certain portfolios.’

‘While crypto has been classified as a commodity, it’s an immature asset class that has little history, no inherent economic value, no cash flow, and can create havoc within a portfolio.’

This post appeared first on NBC NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Biden to launch task force to crack down on ‘unfair and illegal pricing’ amid rising inflation
next post
Biden to launch task force to crack down on ‘unfair and illegal pricing’ amid rising inflation

You may also like

Nissan issues ‘do not drive’ warning for 84,000...

Rentals across the U.S. may be easing and...

Hatch Baby recalls 919,000 power adapters on Rest...

It wasn’t the endless shrimp that pinched Red...

From department store to ice rink: How shuttering...

Autoworkers strike is over as union and GM...

Meta approves plan for bigger executive bonuses following...

Costco and Teamsters reach tentative contract agreement, avoid...

Home buyers to be spared automatic broker commissions...

JPMorgan Chase is giving its employees an AI...

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • ‘What else could Cyril have done?’ South Africans praise calm Ramaphosa after...

    • WATCH: Rubio on Dems saying they regret voting for him: ‘Confirmation I’m doing a good job’

    • Armed assailants rob tourists, drain bank accounts on Peruvian Amazon boat trip

    • Trump’s ‘big, beautiful bill’ heads to House-wide vote after key committee victory

    • Kim Jong Un’s fury after watching North Korea’s new navy destroyer crippled in botched launch

    Categories

    • Business (1,656)
    • Investing (4,896)
    • Politics (7,740)
    • Uncategorized (2)
    • World (6,261)
    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions
    • Email Whitelisting

    Disclaimer: toppricemarket.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 toppricemarket.com | All Rights Reserved


    Back To Top