Bitcoin at its highest in 2 years, hits $50,000. What is the reason behind this sudden surge?
Bitcoin, the leading cryptocurrency, has surged past the $50,000 mark for the first time in over two years. This notable milestone comes as optimism grows around potential interest rate cuts later in the year and following regulatory approval for US exchange-traded funds (ETFs) tracking Bitcoin’s price.
The cryptocurrency market has witnessed a 16.3 per cent increase in Bitcoin’s value since the beginning of the year. On Monday, Bitcoin reached its peak value since December 27, 2021, hitting…