Bitcoin has crossed the $70k mark as the halving event approaches. Pix crypto has been used by 160 million people so far.
Over the years, cryptocurrency prices, especially Bitcoin, have been highly volatile. This volatility is partly due to the decisions taken by the United States’ financial regulators on the usage of cryptos.
Bitcoin Crosses $70k Mark
The Bitcoin price has been hovering above the $69,911 level and finally touched a new peak of $70,136 in the last 48 hours. However, the price didn’t sustain long at those levels and retraced from the peak due to profit-booking.
The demand for Bitcoin is rising due to the approval of BTC spot exchange-traded funds in the US and expected changes to the way Bitcoins are created and “mined”.
Why Bitcoin Priced Surged Suddenly
According to The Block’s data, around $70 Billion has been invested in spot Bitcoin exchange-traded funds since they became available in January.
However, JPMorgan estimates that the current
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