Bitcoin has experienced a significant rise recently and reached over 61 thousand dollars. There are some factors behind this rise:
IMPACT OF BITCOIN ETFs: The first Bitcoin ETFs began trading in the USA in January. This supported the rise in Bitcoin's value. ETFs are portfolios that allow investors to invest in various assets simultaneously. With the Spot Bitcoin ETF, cryptocurrency can be purchased directly at its current price throughout the day.
DECLINE IN SUPPLY: Bitcoin is expected to halve in April. This process is being done to slow down the launch of the cryptocurrency by halving the reward for producing Bitcoin, whose supply is capped at 21 million. This is a big incentive for Bitcoin purchases right now.
CORPORATE INTEREST AND EXPENDITURES: Software company MicroStrategy announced that it purchased 3 thousand Bitcoins for an expenditure of $ 155 million. This contributed to Bitcoin's rise.
WEAKING OF THE DOLLAR: The weakening of the dollar may increase the demand for alternative assets such as Bitcoin.
