Since crashing in 2022, cryptocurrencies, specifically Bitcoin, have seen a price surge unlike any other…
Can this new success be what cements Bitcoin as a reliable currency network?
What Caused The Latest Bitcoin Price Surge?
On Tuesday, March 12, Bitcoin hit a record high, coming in hot at $72,000.
This is just the latest success in the world of crypto…
But what sparked this Bitcoin price surge?
In January, the Security and Exchange Commission, or SEC, approved the first exchange-traded funds.
EFT’s essentially allow investors to put money into crypto without owning the technology themselves. (No need to manage a digital currency wallet).
These ETFs have been authorized for crypto companies and traditional finance firms…
And investors have been having a field day.
After the introduction of this latest finance product, investors poured over $7 billion into Bitcoin and the EFTs…
LEADING TO THE BITCOIN PRICE SURGE.
What Lies Ahead For Crypto?
Yet, cryptocurrencies still remain volatile.
Not to mention, the industry is still reeling from the 2022 crypto crash. After Bitcoin’s price tanked, legal battles between the SEC and crypto exchanges ensued…
The SEC sued some of the most dominant crypto firms, accusing them of offering unregistered securities. On the other hand, Coinbase…
A NASDAQ-listed crypto-exchange…
Sued the SEC for not having clearer rules on how the industry should operate.
In the face of the successes and failures of crypto…
Skeptics are still unconvinced that Bitcoin and crypto have any actual real-world applications.
So the question remains…
Will the success of this Bitcoin price surge actually mean the digital currency will become useful?
Or will it remain the same confusing, obsolete, techno trend to latch onto amateur investors?
Be Great,
GCTV Staff
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