Bitcoin has broken the numbers recorded during the recent period (Getty)
The cryptocurrency Bitcoin jumped to a new peak today amid optimism regarding the US Federal Reserve’s decision to cut interest rates this year, in addition to the expected halving process, as well as expectations that the Financial Conduct Authority in Britain will allow the creation of securities linked to cryptocurrencies.
This comes after the US authorities gave the green light this year to launch traded investment funds linked to the spot price of Bitcoin, which convinced a number of large investors to take the risk of introducing units of them into their portfolios.
ETFs are an investment vehicle that tracks the performance of an existing market or group of markets.
Experts expect Bitcoin to continue setting records as the halving process approaches (Getty)
Bitcoin Summit
Bitcoin reached $71,778, before falling to $71,645 at the time of writing the report, rising by slightly more than 70% since the beginning of the year.
Experts expect Bitcoin to set record highs, with US authorities recently allowing the creation of traded investment funds that deal with Bitcoin, in addition to the expected halving process next month.
The Bitcoin halving is a pre-scheduled event in which the reward for mining and verifying new blocks is reduced to 50%, and thus miners will be able to earn only half the number of Bitcoin tokens per block mined, according to the Binance website.
The next Bitcoin halving is expected to happen next April, after having happened three times in November 2012, July 2016, and May 2020.
As for the rest of the currencies:
Ethereum rose 1.87% to $4,033 within 24 hours.
Solana coin value increased 0.62% to $148.25.
Ripple's value rose 0.89% to $0.6282.
On the other hand, the BNP currency fell 0.72% to $526.8.
In total, the market value of cryptocurrencies increased by 2.05% to $2.7 trillion.
Source: French + websites