Bitcoin rises 6.8% to $46,943

Bitcoin with this recent rally of gains has added $2,999 to the figure it closed a day earlier
An undated image displays a standing Bitcoin. — Pixabay
An undated image displays a standing Bitcoin. — Pixabay

Bitcoin (BTC) on Tuesday gained 6.8% in its value to be slightly below the $47,000 mark at $46,943.

The biggest cryptocurrency, with this recent rally of gains in its value, has added $2,999 to the figure it closed on a day earlier.

While this uptick makes the BTC value the highest since Mar 2022, it remains way below its record high $67,000 level it touched in November 2021.

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To compare today’s value of BTC with last year, the world's most-traded and popular cryptocurrency is 13.2pc higher than the year's low of $41,454 on Jan. 3.

Similarly, Ether, the coin associated with the Ethereum blockchain network, rose 5pc to $2,338.6 on Monday, adding $115.8 to the figure it closed during the previous trading session.

On Sunday, the price of Bitcoin surged to $44,030 by gaining 0.6 pc, taking the overall market capitalisation to gain 0.7 per cent to reach $1.73 trillion. Meanwhile, Bitcoin’s market capitalisation reached $863 billion.

Last week, with the SEC’s impending final comments to issuers that cleared the pathway for Bitcoin spot ETF approval, Bitcoin rose slightly beyond the $44,000 level on Friday.