Bitcoin value exceeds $45 thousand for the first time since April 2022

The price of Bitcoin has updated its maximum since April 2022 and exceeded $45 thousand during trading the day before. This happened amid optimism about the possible approval of spot bitcoin ETFs (Exchange Traded Funds), writes Reuters.

The price of Bitcoin reached a 21-month peak of $45,922 thousand. Last year, the value of the cryptocurrency increased by 156%, which was the strongest annual figure since 2020.

Earlier in December, Bitcoin rose to $41 thousand. This was the first time since May 2022 that the value of Bitcoin surpassed $40 thousand. At the time, analysts suggested that the cryptocurrency’s growth would not stop.

For example, IG Australia Pty talked about $42,330 as the next level for Bitcoin. And Nexo, a digital asset company, called $48 thousand and $52 thousand the next important milestones.

Attention is now focused on the potential approval of spot bitcoin ETFs. A corresponding decision by the US Securities and Exchange Commission could open the market to millions of investors and attract billions of dollars in investment.

So far, the US regulator has rejected such applications, arguing that the cryptocurrency market is vulnerable to manipulation. However, the situation may change – a positive decision on at least some of the applications may be made as early as January.