Summary:
- Bitcoin has reached a new peak, trading at nearly $25k, despite SEC clampdowns on major crypto exchanges.
- The ascent is traceable to continued positive investors’ behavoiur, who remain bullish in their investments.
- Additionally, Ether also saw a surge, reaching over $1,700 on Monday, its highest price in 2023.
Bitcoin has reached a new peak in 2023, trading at nearly $25K on Monday after a rough start in February. The digital asset continues its journey to recovery after a rocky year and amidst major movements in the industry.
Its previous peak was $23,780 on January 29 but it dipped the following month falling to what is now its lowest point this year, at $21,628.
Now, the crypto is valued at $24,946 during the middle of trading on Monday despite starting the day at $24,278. Although, it is expected that it may drop slightly before the end of the day.
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In the past one month, Bitcoin has risen by 10% and about 18% in 6 months. According to a price history chart, the asset is at its highest point in the past one year.
The ascent of Bitcoin is curious because the past week was charaterised by SEC clampdowns on major exchanges such as fining Kraken for crypto staking, possible lawsuit against Paxos, and suing Terraform Labs for outright fraud.
We can trace the appreciation of Bictoin price to the fact that investors are not discouraged by the several legal plagues. Instead, it is encouraging them to be bullish in their investments.
Bitcoin is not alone as Ether was also priced at over $1,700 on Monday, which is its highest pricing in 2023, although, it is a little behind its previous six month peak.
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