Bitcoin (BTC) has surged over 140% this year, surpassing other investment options such as stocks and gold, with considerable optimism for continued gains in its value. Does Bitcoin’s resurgence to the $40,000 level indicate the preparedness of the industry and the initiation of another bullish trend, or is there a possibility of the coin facing setbacks again?
After a cryptocurrency market crash last year, Sam Bankman-Fried, the founder of FTX, is currently in jail for fraud. Simultaneously, Binance, a prominent exchange, and its founder Changpeng Zhao have admitted guilt to U.S. anti-money laundering and sanctions violations, leading to fines of $4.3 billion and $50 million, respectively.
Despite this, Bitcoin has recently surpassed a $41,000 threshold, a level not seen since April 2022, driven by factors such as anticipation of a Federal Reserve interest rate reduction and optimistic prospects for increased demand from exchange-traded funds (ETF).
The sector is anticipating the dec
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