Bitcoin Breakthrough: First Time in Two Years Over 60,000 US Dollars

In a remarkable surge, the cryptocurrency market's flagship currency, Bitcoin, has breached the 60,000 US dollar mark – a level last seen two years ago. The digital currency has been riding a wave of success that began in January when it crossed the 50,000-dollar threshold and has since continued its rally. With the latest increase, Bitcoin still remains a distance from its all-time high, which peaked at nearly 69,000 dollars on November 10, 2021, before dramatically falling to below 17,000 dollars over the course of a year. Market observers attribute the strong interest in the cryptocurrency to the approval of Bitcoin ETFs in the United States, which allow investment in the currency without direct purchase or ownership – an innovation that was only greenlit by the US Securities and Exchange Commission in January. The upcoming halving of Bitcoin miner rewards in April, an event known as "Halving," could also provide fuel for the positive price development. This halving cuts the rate at which new Bitcoins are created and has often led to price increases in the past. While some experts, such as Bitpanda CEO Eric Demuth, believe potential prices over 100,000 dollars are possible, other stakeholders like the German Consumer Centre warn of the high risks associated with Bitcoin investments. The volatility and the possibility of total loss render Bitcoins a questionable investment option, according to consumer protectors.