Bitcoin reached a record high of over $69,000 on Tuesday, marking a remarkable climb since November 2022 with a rise of over 300%. This surge comes after a previous crash in 2022, when Bitcoin's value plummeted below $20,000 due to FTX's collapse and the Federal Reserve's interest rate hikes. However, recent enthusiasm has been boosted by the US SEC's approval of cryptocurrency ETFs, allowing easier access for investors without direct ownership. Bitcoin's upcoming "halving" event, where production is cut by 50%, expected in April, has also contributed to its current value. Despite its volatility, Bitcoin has shown resilience since its 2018 inception, offering an alternative to traditional finance systems during crises and gaining traction especially during the pandemic. Yet, with ongoing lawsuits against major crypto firms and lingering skepticism, the future of cryptocurrency remains uncertain.
Bitcoin Hits Record High, Completing a Stunning Comeback
Bitcoin briefly hits an all-time high, less than two years after FTX scandal clobbered crypto
