Bitcoin rose to a one-year high – E24

The cryptocurrency broke the $31,000 barrier on Friday, and climbed to its highest level since June last year.

He writes bloomberg.

The cryptocurrency peaked at nearly $31,400 per bitcoin on Friday, before retreating somewhat again.

It is the highest level since June 8, 2022.

Last week, the rate rose about 17 percent, according to CoinMarketCap.

Other cryptocurrencies also received a boost. Ethereum rose nearly 13 percent in the past week.

Positive news

Bitcoin has soared in recent weeks, after fund manager BlackRock submitted an application for a listed bitcoin fund, he writes CNBC.

Many on the market hope that such a product, which does not currently exist, will gain approval from the US authorities. The authorities have not yet approved any applications for the listed bitcoin funds.

It is a sign that the days are numbered for bad players like Binance and FTYX, and that the crypto ecosystem is maturing. It’s a powerful catalyst for the industry, which has been plagued by scammers and pundits at various times, Ryan Rasmussen, an analyst at Bitwise Asset Management, tells CNBC.

The rally was also supported by other positive cryptocurrency news. New crypto market called EdX Marketswas launched earlier this week, writes Bloomberg.

Cryptocurrency rally in 2023

Bitcoin, the largest cryptocurrency, has had a strong year so far, after a tough 2022. Turmoil in the financial markets and banking chaos led to the cryptocurrency boom this winter.

So far this year, the rate is up nearly 90 percent. On Friday evening, bitcoin is trading for just under $31,100, according to CoinMarketCap.

The crash of the cryptocurrency exchange FTX last fall caused market turmoil, and a number of major currencies fell sharply after that.

The price is still far from the Bitcoin record price of $68,790 as of November 2021.