The first cryptocurrency has risen in price by more than 70% since the beginning of the year
The Bitcoin (BTC) rate on March 12 at 17:00 rose above $73 thousand on the Binance exchange paired with the USDT stablecoin, reaching a new historical high. Immediately after reaching this mark, the rate rolled back. At 17:30 Moscow time, Bitcoin is trading at $71,950.
In the last 30 days alone, Bitcoin has risen in price by more than 50%, and its capitalization has exceeded $1.4 trillion. Bitcoin has overtaken silver in capitalization to become the eighth largest traded asset in the world. The largest assets by capitalization are gold and shares of Microsoft and Apple.
For the first time, Bitcoin updated the maximum of the last market cycle on March 5, when its price exceeded $69 thousand. A significant growth factor is the so-called halving, which is expected in April. This is a planned and programmed event in the cryptocurrency code, after which the emission of new bitcoins is halved.

Demand for Bitcoin is also being boosted by strong inflows into US spot Bitcoin exchange-traded funds (ETFs), which began trading in January. Management companies, including financial heavyweights BlackRock and Fidelity, buy bitcoins to back the shares of such funds. The fund from BlackRock already manages more than 200 thousand bitcoins, which is more than 14 billion in dollar equivalent.#btc #eth #wsm