Bitcoin Price Hits $60,000 For The First Time Since April 2021
The price of Bitcoin (BTC) has surpassed the $60,000 mark briefly for the first time since April 2021.
It has been reported that the price has been boosted by reports suggesting a Bitcoin futures exchange-traded fund (ETF) is likely to begin trading in the United States as early as next week.
However, Bitcoin prices have been on a slow grind upward since the beginning of this month. Before the upward price action began, prices had hovered around $42,000 from September 20 to October 1.
The report said that the $60,000 mark was first breached on Bitstamp exchange just after 5 am (UTC), and Bitcoin is now just 7% away from reclaiming its April.
Likewise, positive indications that the US Securities and Exchange Commission is likely to approve several Bitcoin futures ETFs to begin trading next week. Rumors about the imminent approval saw a price increase of about $7,000 over the past seven days, equating to a 13% increase from $53,000 to $60,000.
Thus, the sharpest increase was over the past two days, over which time Bitcoin has rallied from about $54,000 up to the current $60,000 high-water mark.