On Monday, the price of Bitcoin reached a new record high, almost hitting $72,000. This happened because more people are starting to use Bitcoin, and the US dollar isn’t as strong as before. Also, there’s an event coming up in the Bitcoin industry that could make it harder to get Bitcoin, which is making its price go up.
Last week, Bitcoin broke its old record and went up to $68,991. This was even higher than its highest price back in November 2021. The Financial Conduct Authority (FCA) in the UK also said it’s okay to make things related to cryptocurrencies, which made Bitcoin’s price go up even more.
In the US, they’ve said it’s okay to make something called exchange-traded funds (ETFs) that are linked to Bitcoin’s price. This makes it easier for regular people to invest in Bitcoin. More and more big investors are getting interested in Bitcoin.
There’s also something called a “halving” event coming up for Bitcoin. This means the reward for people who make new Bitcoin will be cut in half. This event is making the price of Bitcoin go up even more. Some experts think Bitcoin could reach $100,000, but they also warn that Bitcoin’s price can change very quickly, so it’s risky to invest in it.
