Bitcoin holds up well, breaking the $50,000 barrier for the first time since 2021

Firstly, expectations of future interest rate cuts and the recent approval of Bitcoin-linked US exchange-traded funds (ETFs) were cited as major drivers of the ascent, according to Reuters. Then, renewed investor confidence and anticipation of Bitcoin's halving event for April also contributed to the rise, as Bitcoin Magazine reports. In parallel, a broader rally in US equities, mentioned by Sky News, also fuelled Bitcoin's positive momentum. Furthermore, this rise marks a continuation of volatility on the cryptocurrency motherboard and underlines Bitcoin's role as a store of value and inflation hedge in an uncertain economic environment.

1. Finally, despite lingering regulatory concerns, Bitcoin continues to attract sustained interest, with growing institutional investment and potential for further gains, as demonstrated by LSEG data showing a value in excess of $50,196 this Monday, February 12, 2024.
2.  

1. Sources:
2. https://www.reuters.com/technology/bitcoin-hits-highest-more-than-two-years-2024-02-12/, consulted on 14.02.24
3. https://news.sky.com/story/bitcoin-hits-50-000-level-for-first-time-since-2021-13070272, consulted on 14.02.24
4. https://bitcoinmagazine.com/markets/bitcoin-hits-50000-for-the-first-time-since-2021, consulted on 14.02.2
5.  

Disclaimer : This is not financial advice. The Satolix.io website aims to inform readers about Blockchain, cryptocurrencies, and Web3. Any type of investment involves risk. Please conduct your due diligence and research the articles and projects presented on the site. Be responsible and do not invest more than your financial goals or means allow. In this regard, read our page : Warning about virtual currencies.

Some articles on the site contain affiliate links, and using them to register from the site allows the site to develop through the collection of commissions. By doing so, you also make yourself eligible for a welcome bonus, such as a voucher or fee reduction.