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Bitcoin came close to $37 thousand


November, 09 2023
watermark Economic news

Over the past day, bitcoin has shown an increase of 3.63%, approaching the mark of $37 thousand – $36,980.50, according to CoinDesk. This price indicator has become the maximum since May 6, 2022. It was then that the TerraUSD stablecoin collapsed, which led to a general decline in the cryptocurrency market.


Bitcoin took just over 18 months to fully recover from the TerraUSD incident. During this time, bitcoin again fell to a minimum after the collapse of the FTX crypto exchange, whose former head Sam Bankman-Fried was recently found guilty of fraud. 


Unlike previous periods of the cryptocurrency boom, this year bitcoin is regaining its position gradually, with alternating sharp growth, long lulls and low volatility. The cryptocurrency has withstood the sharp tightening of the monetary policy of the US Federal Reserve and the introduction of strict regulatory standards in the crypto industry.


Today, bitcoin's growth is supported by several factors: its status as a refuge from inflation and the banking crisis in the United States, which occurred in March, as well as the latest news about the possible approval of an exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC).


Currently, the department has an eight-day window for issuing the relevant order. Even if this does not happen now, analysts believe that the probability of this event before January 10 is 90%.


Officials in the United States have been discussing the introduction of such a tool for more than a decade, and this year bitcoin has gained 120% in price, while the average growth of global stocks was about 10%.



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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.