BITCOIN TOPS $25,000 FIRST TIME SINCE JUNE

Thu 16 February 2023:

Bitcoin touched its highest intraday level in six months on Thursday, coming close to $25,000.

The largest cryptocurrency by market value hit about $24,769 during Asian trading hours, CoinMarketCap data showed. That was up 11% from 24 hours earlier, and the highest intraday level in CoinMarketCap data since August 2022.

Crypto markets were on edge earlier this week following increased regulatory scrutiny from U.S. authorities on digital currencies.

Bitcoin’s price on Thursday sat at its highest level since mid-August 2022. Last year, nearly $1.4 trillion was wiped off the crypto market after turmoil which saw bankruptcies, failures of projects and companies. All that was topped off by the collapse of major exchange FTX.

Other top crypto tokens were also trading higher on Thursday. Polygon surged 9.6%. Solana, Cardano, Shiba Inu and BNB were also trading with gains. The global cryptocurrency market cap was trading higher around $1.11 trillion, rising 7.98% in the last 24 hours.

If bullish investors maintain their momentum, BTC may reach US$25,000 soon. Overall, there is bullish sentiment in the market,” Edul Patel, Co-founder and CEO at Mudrex said.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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