Bitcoin crossed the $73,000 level or over 2,600,000 baht, hitting a new all-time high this evening (13 Mar 24).
Image from https://www.bitkub.com/th/market/btc on March 13, 2024 at approximately 4:45 p.m.
Bitcoin (BTC) price reached a new high of 2,620,000 baht on March 13, 2024, a new historical high (all-time high) on the Bitkub exchange, with a 24-hour low of 2,499,695.46 baht Change +1.81 %
As for the price of Bitcoin (BTC) in US dollars from Coinmarketcap.com, it achieved a new high at 73,637.47 US dollars, with the lowest price in 24 hours at 68,728.85 baht, with a change of +1.74%. Overall, over the past seven days, the price of Bitcoin continued In adjusting in the upward direction. Change +9.86%
Image from https://www.bitkub.com/th/market/btc on March 13, 2024 at approximately 4:45 p.m.
This price increase is expected to come from continued buying of Bitcoin from the iShares Bitcoin Trust (IBIT), a Bitcoin exchange-traded fund from BlackRock Inc., the world's largest investment and asset management company. Assets under management (AUM) exceeded $14.76 billion.
IBIT's total Bitcoin holdings as of March 11, 2024 were 203,755 BTC, worth $14.76 billion. The Fund's Bitcoin holdings increased by 7,769.52 BTC compared to the previous trading day (data from news.bitcoin.com )
Photo from https://companiesmarketcap.com/assets-by-market-cap/#google_vignette
On March 13, 2024
The rise in Bitcoin price has also pushed Bitcoin's market capitalization to eighth place among all assets worldwide. The market value increased from last week, exceeding the level of 1.439 trillion US dollars. If we compare Bitcoin as a company, it can be considered a company with a higher value than Meta, which owns Facebook, which has a market value of $1.274 trillion, ranking ninth, or Tesla, whose company value is $565.42 trillion.
As for the price of the No. 2 cryptocurrency in the world, which is Ethereum (ETH), the digital currency with the second highest market value after Bitcoin, its price is close to the all-time highest original level that it achieved in the past, which was $4,891.70. On November 16, 2021, and as of March 13, 2024, its value was at $4,047.73 with the 24-hour low at $3,831.89.Overview Over the past 7 days, Ethereum price has changed in an upward direction. There has been a change of +6.03% amid Excited investors waiting for the major upgrade of “Ethereum Dencun” to be successfully conducted on the night of March 13, 2024 at 8:55 PM Thailand time. You can follow more information at https://blog.ethereum.org/th
Bitcoin depends on several factors, including:
- The US Securities and Exchange Commission (SEC) has approved the creation of the Spot Bitcoin ETF.
- The Bitcoin halving is expected to occur in April.
- The US Federal Reserve may cut interest rates in June.
- The latest from the UK opens the way for debt securities to be traded at values based on cryptocurrencies.
The Financial Conduct Authority (FCA), the British financial regulatory body, has announced that approved investment platforms will be allowed to start trading exchange-traded securities (ETNs) based on cryptocurrencies.
Meanwhile, the London Stock Exchange (LSE) issued a statement saying that the LSE is ready to accept orders for Bitcoin and Ethereum-based exchange-traded securities starting from the second quarter of this year. ETNs are debt instruments issued by financial institutions. It has a value based on the listed assets
The Financial Conduct Authority (FCA) also stated that trading of cryptocurrency-based ETNs is prohibited. It is limited to professional investors such as investment companies that are allowed to trade in the financial markets. Along with a warning that ETNs whose value depends on cryptocurrencies will create a risk for small investors.
The FCA's action comes after the US Securities and Exchange Commission (SEC) approved the creation of the Spot Bitcoin ETF on January 10.
Information from www.bitkub.com
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