{"id":113197,"title":"Bitcoin achieves yet another record-breaking high, notching up 73% year-to-date gains","publisher":"Share Talk","author":"sharetalk","published":"2024-03-13T09:55:35+00:00","modified":"2024-03-13T09:55:35+00:00","canonical_url":"https://www.share-talk.com/bitcoin-achieves-yet-another-record-breaking-high-notching-up-73-year-to-date-gains/","markdown_url":"https://www.share-talk.com/bitcoin-achieves-yet-another-record-breaking-high-notching-up-73-year-to-date-gains.md","json_url":"https://www.share-talk.com/bitcoin-achieves-yet-another-record-breaking-high-notching-up-73-year-to-date-gains.json","category":"Blogs","categories":["Blogs","Fintech","Technology","Technology, Media & Telecoms"],"tags":["Avalanche","Binance","Binance's BNB token","Bitcoin","BNB","BTC","Cardano","cryptocurrencies","cryptocurrency","Deutsche Bank","DOGE","Dogecoin","Elon Musk","ETFs","ETH","Ethereum","Litecoin","LTC","Ripple","SEC","SOL","Solana","Toncoin","TSLA","US Securities and Exchange Commission","USA","XRP"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/01/45528198_gold-bitcoin-coins-on-top-of-one-hundred-dollar-banknotes-btc-exchange-to-usd-united-states-of-america-currency.jpg?fit=1600%2C1067&quality=89&ssl=1","format":"news","language":"en-GB","content":"Bitcoin (BTC) maintains its momentous surge, registering an additional 2.8% increase against the US dollar on Wednesday morning.\n\nThis rise propels the BTC/USD pairing beyond the $73,000 mark, a first in the 15-year history of the world’s most prominent cryptocurrency.\n\nAs of this report, bitcoin has reached an all-time high of $73,500, translating to a 73% gain since the start of the year.\n\nAnalysts from Deutsche Bank attribute this growth to a combination of ongoing ETF investments, the anticipated Halving event, expected reductions in central bank interest rates, and progress in regulatory frameworks.\n\nhttps://twitter.com/Share_Talk/status/1767816133392908533\n\nThe UK has recently advanced in regulating cryptocurrency markets, opening up to exchange-traded notes (ETNs), a type of crypto-linked derivative product available on regulated exchanges.\n\nHector McNeil from HANetf views this as a positive development, albeit with certain reservations.\n\nHe notes that this positions the UK more in line with other European markets, but emphasizes that it’s limited to professional investors, making the access threshold still quite high.\n\nMcNeil suggests that an existing framework for complex instruments like leveraged ETFs, which are used by money managers and gatekept for informed retail clients capable of handling the risks, could be a model for the next stage in investor accessibility.\n\nHe believes that the UK lags behind Europe and the US in this area and also suggests a disconnect between the Financial Conduct Authority (FCA) and the UK government, which he perceives as more supportive of cryptocurrencies.\n\nEthereum (ETH), ranking second in the cryptocurrency market, recently hit a new all-time high of $4,093 on Tuesday, with its current trading price just below this peak.\n\nIn the broader altcoin market, Binance’s BNB token has surged 40% in the past week to $575, although it is still below its November 2021 all-time high of $669.\n\nAvalanche (AVAX) has experienced a 32% increase over the past week, while Toncoin (TON) has seen a near 60% rise.\n\nThe global cryptocurrency market capitalization now stands at $2.77 trillion, with Bitcoin holding a 53.9% dominance."}