The price of Bitcoin this week reached its highest levels since July of this year, which also pushed other digital assets to rise. Over the past 24 hours, the rate of the world’s most popular cryptocurrency reached $68,284 (data from CoinDesk). At the time of writing this note, Bitcoin was trading at $67,433 per coin.
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Over the past few days, Bitcoin has increased by more than 9%, which has also had a positive effect on several other digital assets. Thus, the Ethereum rate has increased by 7% in recent days, the cost of Solana has increased by almost 10%, and Dogecoin has risen in price by 15%. Positive dynamics affected stocks related to digital assets. The price of securities on the Coinbase cryptocurrency exchange rose by 7% in one day, and the three-day increase was 19%. Thanks to this, Coinbase’s share price reached its highest level since August of this year.
One of the reasons for Bitcoin’s 53% rise this year is the launch of spot Bitcoin exchange-traded funds (ETFs), which have managed to attract a large number of new investors. Bitcoin spot exchange-traded funds appeared in January, and Ether ETFs launched in July. Over the past three days, investors have poured a total of $1.2 billion into the ETF, bringing its total capitalization to more than $63 billion.