Daisy Watts 
Jan 02, 2024
Bitcoin, the world’s most-traded cryptocurrency, rose above $45,000 on Tuesday for the first time since April 2022, the highest upsurge in the last 21 months.
Last year, Bitcoin stood at $45,488, gaining 154% in its value, demonstrating the greatest performance since 2020.
However, by gaining substantially high, Bitcoin’s April 2022 gains remained way behind what it achieved in November 2021, touching its all-time high of $69,000, Reuters reported.
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In the same breath, Ether, the cryptocurrency associated with the Ethereum blockchain network, gained 1% to stand at $2,376 on Tuesday.
As per the experts, the expected approval of a spot Bitcoin ETF by the US Securities and Exchange Commission (SEC) is something which has the potential to attract more investors and is the focal point for its existing potential investors.
During the past few years, the US securities regulator has rejected multiple applications seeking to launch spot Bitcoin ETF, remarking that the crypto market is highly vulnerable to deception.
Similarly, there are also indications that regulators would soon sign the approval of at least 13 spot Bitcoin ETFs that were proposed recently, with January being the month to observe the final verdict.
