Bitcoin, a digital currency platform, reached a milestone by surpassing $45,000 on Tuesday, marking its first ascent to this level since April 2022.
Experiencing a remarkable performance in 2023 with a 156 percent gain, Bitcoin surged to a 21-month peak of $45,532, yet it remains notably lower than its record high of $69,000 attained in November 2021, despite a 2.5 percent increase to $45,318 in recent trading.
Ether, the token linked to the Ethereum blockchain network, followed suit with a 91 percent surge in 2023, reaching $2,386 on Tuesday, marking a 1.45 percent rise.
These movements occurred amid growing anticipation surrounding the potential approval of exchange-traded spot bitcoin funds.
Investor attention has been focused on whether the U.S. securities regulator will greenlight a spot bitcoin ETF, a development that could attract substantial investments and widen access to the bitcoin market for millions.
Additionally, in December 2023, the Central Bank of Nigeria (CBN) shifted its stance on cryptocurrency assets, instructing banks to disregard its earlier prohibition on crypto transactions.
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