Bitcoin broke $52,000 for the first time since 2021.

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Bitcoin rose above $51,000 for the first time in more than two years on Tuesday as investors are optimistic that US approval of the unit for wider trading will boost demand.

Cryptocurrency has enjoyed a strong rally in recent months, fueled by expectations from US lawmakers to allow the creation of exchange-traded funds (ETFs) that track the price and allow the public to invest in cryptocurrency without buying it directly.After an initial drop due to Washington’s green light last month, Bitcoin is up about 25 percent since January 22nd.

Bitcoin’s price reaching $52,000 represents a significant milestone in its price trajectory. This rise underscores the continued interest and investment in the world’s leading cryptocurrency. Several factors may have contributed to this surge, including increased institutional adoption, growing acceptance of Bitcoin as a store of value and hedge against inflation, and broader market trends. However, it’s essential to remember that cryptocurrency markets can be highly volatile, and prices can fluctuate rapidly based on various factors, including market sentiment, regulatory developments, and macroeconomic conditions. As always, investors should exercise caution and conduct thorough research before making any investment decisions in the cryptocurrency space.

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