Bitcoin price nears record high as cryptocurrency surges | City & Business | Finance

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Bitcoin has skyrocketed to $60,000 for the first time since November 2021, edging close to the cryptocurrency’s previous all-time high.

As of early Wednesday afternoon, one Bitcoin was valued at $60,519, coming within striking distance of the record peak of $60,655 set on October 31, 2021. This surge follows several days of significant price increases, marking a resurgence for the digital asset after a tumultuous period of decline in late 2022.

A key factor driving this rally is the introduction of new investment products in the United States, allowing investors to access Bitcoin’s price movements without direct ownership of the cryptocurrency.

Since the beginning of the year, Bitcoin has surged by an impressive 37%, with a remarkable 20% increase recorded since last Saturday alone. If this trajectory continues, Bitcoin is poised to achieve its most substantial monthly gain since December 2020.

READ MORE: Bitcoin ‘on a tear’ with price doubling to $100k a ‘near certainty’ in 2024

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