The Bitcoin price has risen several thousand dollars in the space of a few hours. Currently you pay as much as $56,500 for one whole coin. Yesterday around the same time it was about $51,000.
Bitcoin rose by about 10% and is now at levels it hasn’t seen in a long time. It is the highest price since December 1, 2021. The price increase follows a flat period of almost two weeks in which relatively little happened.
Bitcoin has now existed for 4942 days, and for no less than 4832 days the price was higher than it is today. You can already feel it coming: just 110 days since Bitcoin was created, Bitcoin was more valuable than it is today. This puts the so-called Bitcoin Profitable Days at 97.8%.
Due to the increase in the price, the market capitalization of bitcoin has now shot through $1,100 billion again. This puts it ahead of other cryptocurrencies, which rose less than 10% in the past 24 hours. Ethereum benefited from 4% growth, while BNB (3%), Solana (6%) and XRP (3%) are in the green.
If we zoom out a little further, we see the following price development:
- +9% in the last day
- +31% in the past month
- +132% in the past year
- +1321% in the last five years
It is not easy to pinpoint a reason for this abrupt increase. It was announced yesterday that it was the most successful day for the American bitcoin ETFs. The nine exchange traded funds broke a new record in trading volume of $2.4 billion. This is approximately double the average daily volume. BlackRock’s IBIT did really well: they generated $1.3 billion in volume.
It’s official..the New Nine Bitcoin ETFs have broken all time volume record today with $2.4b, just barely beating Day One but about double their recent daily average. $ GO went wild accounting for $1.3b of it, breaking its record by about 30%. pic.twitter.com/MiCs1rzttM
— Eric Balchunas (@EricBalchunas) February 26, 2024
Source: https://bitcoinmagazine.nl/bitcoin-nieuws-overzicht/bitcoin-schiet-naar-56-500-de-hoogste-prijs-sinds-december-2021
