- By Aditya Pratap Singh
- Mon, 11 Mar 2024 03:17 PM (IST)
- Source:JND
Bitcoin Price Surge: Bitcoin, the world's most valuable cryptocurrency, has hit a new all-time high of $71,263.78. As per CoinDesk, the largest cryptocurrency hit a new high of $71,263.78 on Monday.
Bitcoin was trading for $71,173.99 at around 1:11 pm, the price has jumped by 2.55% in the last 24 hours. The surge in bitcoin prices has pushed the token's market capitalization to $1.40 trillion. In 2024, Bitcoin prices have risen more than 67%.
Also Read: British Cosmetics Giant 'The Body Shop' Files Bankruptcy, Shuts Operations In US
Cryptocurrency prices have risen on new spot bitcoin exchange-traded funds (ETFs) and hopes that the US Federal Reserve will cut interest rates soon.
Key Factors Fueling Bitcoin Price
Many factors have provided momentum to Bitcoin price rally, the major factor among them are corporate adoption, macroeconomic trends, investor sentiment, and regulatory changes. Also, a recent statement from Federal Reserve Chairman Jerome Powell confirmed that interest rate cuts later this year will be implemented. through a cautious approach.
Key Factors
- corporate adoption
- Bitcoin exchange-traded funds
- Investors positive Sentiments
- Regulatory Changes
- Expected Rate Cut
Also Read: UPI In Nepal: Indians Can Now Make Payment Using UPI Enabled Apps; Details