Bitcoin exceeded $50,000

The price of the cryptocurrency Bitcoin is trading above $ 50,000 for the first time since December 2021 amid continued interest in spot Bitcoin exchange-traded funds (ETFs). According to data from analysis firm Coinmarketcap, the value of the global cryptocurrency market, including Bitcoin, increased by 2.3 percent in 24 hours to exceed $ 1 trillion 850 billion. The price of Bitcoin, the largest cryptocurrency, has gained more than 3.8 percent in the last 24 hours as investments in spot Bitcoin ETFs continue to increase. Expectations that major central banks will start lowering interest rates this year and turn to a more supportive monetary policy also support the increase in Bitcoin. As of 20:30 today, Bitcoin, which is trading at $ 50,195, reached its highest value since December 2021. Bitcoin's weekly value gain also exceeded 17.4 percent. Bitcoin has gained more than 80 percent since October 2023, but is still far from its record high of $ 68,990 in November 2021. Bitcoin’s price gained about 157 percent last year. It is indicated that it may rise due to the halving process in April Analysts point out that the upward momentum in the cryptocurrency’s price may continue due to the halving process that will take place in April and will reduce the supply of new Bitcoin. The loosening monetary policy in China is also cited as another reason for the rise in Bitcoin’s price. Ethereum, which ranks second in terms of market value, gained 3.4 percent in the last 24 hours and reached $ 2,606. Ethereum had also broken a record by rising above $ 4,000 in 2021. The U.S. Securities and Exchange Commission (SEC) approved 11 different spot Bitcoin ETF applications on January 11.