For the first time in more than two months, the price of Bitcoin crossed $20,000 (Rs4.5 million) on Saturday. At 1:00 GMT on Saturday, the strongest and most well-liked cryptocurrency in the world increased by $922 from its previous closing price to increase by 4.6% to $20,853.
The value of the cryptocurrency has climbed by 26.4% since its year-ago low of $16,496.
The price of Ether, a cryptocurrency connected to the Ethereum blockchain network, increased by $85.90 to $1,536.3 on Saturday.
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Investors in both traditional investments and cryptocurrencies were delighted with the report’s conclusions. However, it also takes place at a time when Washington is once again interested in cryptocurrencies.
After FTX’s decline in November, legislators are on high alert. The founder and former CEO of FTX, Sam Bankman-Fried, was arrested last month and charged with eight counts, including wire fraud and breaking the rules governing political finance.
Despite the fact that many people on Twitter are pleased with Bitcoin’s recent advances, the current price of $20,000 is still 71% below the cryptocurrency’s previous record high of just over $69,000.
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