Bitcoin Prices Hit Fresh, All-Time High Above $66,000

Bitcoin Prices Hit Fresh, All-Time High Above $66,000

At this point, the cryptocurrency's price has more than doubled in 2021, starting the year out below $29, 000, additional CoinDesk data reveals. More specifically, bitcoin has rallied 131% since that time. Up until today, the cryptocurrency's all-time high was $64, 888. 99, a price the digital asset attained in April. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] As for what has fueled these latest gains in bitcoin, there are certainly some notable developments that have coincided with this rally. For starters, the first U. S. bitcoin exchange-traded fund (ETF) started trading yesterday on The New York Stock Exchange, and its launch managed to generate significant visibility. The ProShares Bitcoin Strategy ETF, which is now trading under the ticker BITO, is linked to futures contracts for the digital currency. As a result, some market observers have voiced their concerns about this particular fund, since it isn't a spot ETF. However, others have interpreted its listing as a sign of progress, speculating that The U. S. Securities and Exchange Commission's decision to approve the ProShares fund means the regulator is coming