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Updated January 2nd, 2024 at 08:50 IST

Bitcoin surges over $45,000 for first time since April 2022

Investors witnessed a notable bullish trend as Bitcoin demonstrated resilience and crossed key psychological levels.

Reported by: Business Desk
Bitcoin
Bitcoin | Image:Unsplash
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Bitcoin experienced a 3 per cent surge at the beginning of 2024, breaking the $45,000 barrier on Tuesday for the first time since April 2022. The cryptocurrency, known as the largest and most widely recognised globally, reached an impressive 21-month high of $45,386 earlier in the day and maintained a robust 2 per cent gain at $44,980.

Investors witnessed a notable bullish trend as Bitcoin demonstrated resilience and crossed key psychological levels. The surge in Bitcoin's value reflected renewed interest and confidence in the cryptocurrency market, setting a positive tone for the broader digital asset space.

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Ether, the cryptocurrency associated with the Ethereum blockchain network, also experienced positive movement, recording a 1 per cent increase to $2,376. Ethereum's performance adds to the broader narrative of strength in the cryptocurrency market, with multiple digital assets benefitting from the overall bullish sentiment.

Competitors in the cryptocurrency space were also influenced by the positive market dynamics. Altcoins and other digital currencies saw varied movements, with some attempting to catch up with Bitcoin's gains.

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Institutional interest, regulatory developments, and technological advancements have contributed to the positive sentiment surrounding digital assets, with investors closely monitoring the evolving landscape.

(With Reuters Inputs)

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Published January 2nd, 2024 at 08:09 IST

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