Bitcoin Rises To $45,000 Since April 2022 Amid High Hopes For Spot Bitcoin ETF Approval

Bitcoin Rises To $45,000 Since April 2022 Amid High Hopes For Spot Bitcoin ETF Approval

6 months ago
1 min read

In a roaring start to the New Year, Bitcoin surged above $45,000 for the first time since April 2022, showcasing its strongest annual performance since 2020 with a remarkable 156% gain last year.

Despite this surge, it still trails behind its peak of $69,000 achieved in November 2021, currently resting at $45,318 as of late.

Ether, the Ethereum blockchain’s token, echoed the positive trend, closing in at $2,386 on Tuesday, marking a 1.45% increase after its notable 91% rise in 2023.

READ ALSO: US Takes Lead In Crypto Regulation, Faces Criticisms For ‘Enforcement-driven’ Approach

Investors eagerly await the U.S. Securities and Exchange Commission’s decision on approving spot bitcoin exchange-traded funds (ETFs).

Speculation swirls around the potential green light for some of the 13 proposed ETFs, which could usher in billions of dollars in investments and expand Bitcoin’s accessibility to millions of new investors.

Despite previous concerns about market manipulation, recent indicators suggest a shift in regulatory stance, raising expectations for potential approval in the coming weeks, with anticipation mounting for an early January decision.

Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.


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