Bitcoin surges to a 21-month high

Samiksha

On January 9th, Bitcoin experienced a surge of 6.2%, reaching over $47,000, marking its largest intraday gain since November 15th. This surge is attributed to market expectations that U.S. regulatory authorities are likely to approve the first-ever ETF for direct investment in Bitcoin. Earlier on Monday, potential Bitcoin ETF issuers such as BlackRock, Ark Invest, and others submitted revised forms. Analysts believe that this marks the final step in gaining approval, since the first application for a Bitcoin ETF was submitted over a decade ago. "It is almost certain that Bitcoin's strong performance is a reaction to the high likelihood of the approval of a spot ETF this week," said Greg Moritz, Co-founder and COO of the cryptocurrency hedge fund Alt Tab Capital.

Shri

This is indeed quite a significant increase.

Kahn332

Having gained some is already quite good.

Jatin255

It's indeed quite alarming.

Jiger955

I really haven't paid attention to it.