Bitcoin continues its climb and exceeds US$ 72,000

Bitcoin, the most used cryptocurrency, remains unstoppable in this Monday’s session and, after starting at US$71,000, at midday it exceeds US$72,000, new all-time highs.

According to Bloomberg data collected by EFE, shortly before 1:00 p.m., bitcoin reached a maximum of US$72,234.25. At 2 p.m., it deflated to US$71,970.1.

Bitcoin already opened today’s session positively and at 8:30 a.m. it surpassed the level of US$71,000.

Over the past week, the cryptocurrency hit several highs. On Friday it reached US$70,000 and thus surpassed the previous record, of US$69,191.9, from last Tuesday.

That top achieved on Tuesday meant breaking a record in force since November 10, 2021, the date on which bitcoin had reached US$68,991.85.

Since January 23, when bitcoin fell to its annual low (US$38,509), the cryptocurrency has appreciated nearly 90%.

Analysts attribute the strong rise in bitcoin to the decision of the SEC, the US stock market supervisor, to authorize ETFs linked to the spot price of this cryptocurrency.

In statements to EFE, the director of Institutional Training at Bit2Me, Javier Pastor, has highlighted that the bitcoin market is in a completely new scenario since ETFs were approved in the US, and that the number of bitcoins purchased on average per day has reached 4,438 units.

This represents a volume of between 310-315 million dollars of net purchases per day of the cryptocurrency. “The madness does not end here,” warned Pastor, who recalled that a new “halving” is scheduled to arrive in April ( the halving of the reward obtained by bitcoin “miners”), which will reduce the creation of this cryptocurrency.

According to estimates, from now until the “halving” occurs, scheduled for next month, the price of bitcoin could approach US$100,000.

“We can see authentic explosions of upward prices, also with volatility, because there will be people who will take profits,” added Pastor, who considered that “this is just the beginning”, since bitcoin is a unique asset that they will want to have. not only large investment funds, but also pension funds and sovereign wealth funds.

Likewise, he has estimated that the cryptocurrency will compete with gold in the coming years and with other assets that are a reserve of value, such as real estate and public debt, waiting “for what the central banks do.”

On the other hand, Ethereum, the second largest cryptocurrency on the market, exceeds US$4,000 this Monday, for the first time since the end of 2021, and is approaching the historical highs it reached in November of that year, at US$4,866. ,4.

At mid-session this Monday, it is trading at US$4,053.55.