On February 28, 2024, for the first time since November 2021, the bitcoin rate crossed the $64 thousand mark. In total, bitcoin has risen in price by more than 6% to $60.2 thousand over the day. BTC’s capitalization has exceeded $1.16 trillion, the “crypto coin” is growing in price for the third day in a row.

The historical maximum of the No. 1 cryptocurrency rate was recorded on November 10, 2021, when $68.7 thousand was given for one bitcoin. Experts attribute the current growth of bitcoin to an increase in demand for cryptocurrencies in general, due to the launch of spot exchange-traded funds (ETFs) in the United States, which were officially allowed to trade crypto. The trading volume in bitcoin ETFs in the US on February 27 exceeded $2 billion, for the second day in a row, the funds have shown a record turnover since their launch in January.

According to the forecast of the head of CryptoQuant, if the current trend towards the inflow of funds to exchange-traded funds (ETFs) for bitcoin continues, the price of the first cryptocurrency may almost double by the end of 2024. The rate of the second largest cryptocurrency – Ethereum (ETH) – has also updated its annual maximum, and now stands at $3,300.

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