Bitcoin has reached a new record level of $52,000, with analysts attributing this surge to a trend among various financial and banking institutions to regulate the cryptocurrency and begin providing tools for customers to use it.
Recently, there has been increased investor interest in digital currencies, which has resulted in a collective rise in their prices over the past few weeks. Bitcoin recorded about $52,000, compared to approximately $36,600 on January 18, adding around $286.48 billion to its market value, which reached about $967.95 billion during midday trading. Over the past two months, Bitcoin has been full of surprises due to the price jumps it has witnessed, attracting the attention of financial institutions that have begun to adopt it as part of their investment tools for clients.
At the end of trading on December 31, the price of Bitcoin was about $29,000, with a total market value of $539.05 billion. The currency gradually rose, reaching $40,797 on January 8, with a total market value of $758.625 billion, before dropping to $33,114 on January 31, losing about $142.17 billion in its market value, which was recorded at around $616.45 billion. It then rose again on February 8, reaching about $46,196, with a total market value of $916.623 billion. The market value of the cryptocurrency has increased by approximately $783.1 billion over the year, reaching $967.95 billion, compared to around $184.8 billion on February 18, 2020, when the price of the currency was about $10,142.
