Bitcoin reached a record high of $71,645 on Thursday. The market value of all cryptocurrencies increased by 2.05% to $2.7 trillion.
Experts expect Bitcoin to continue setting records as the halving process approaches. The halving is a pre-scheduled event when the reward for mining and verifying new blocks is reduced to 50%. The US Federal Reserve is expected to cut interest rates later this year. Britain has allowed the creation of investment funds linked to Bitcoin. The BNP Paribas currency fell 0.72% on Thursday to $526.