The price of bitcoin has risen to its highest level since last summer, as a result of some investors' hopes that the US Federal Reserve would raise interest rates sooner than expected.
Bitcoin was valued at $27,566 per coin at the time of writing this article (data from the CoinDesk platform). Other popular cryptocurrencies have also aided bitcoin's expansion, including Ethereum, which was valued at about $1813 per coin at the time of writing, which has increased in price by more than 10% to $22.39 per coin.
Due to the high degree of volatility in bitcoin, investors consider it to be a high-risk asset. At the end of the week, a number of factors contributed to bitcoin's rise. Thus, more and more investors are betting that the US Federal Reserve's drive will be successful. Following the collapse of two US banks last week,
"Suddenly the question was whether the Fed would continue to raise money," said Christopher Bendiksen, head of cryptocurrency research at CoinShares, which manages digital asset management.
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