Bitcoin price hits all-time high, a month before expectations

Bitcoin hit a record high of $69,000 on Tuesday.

The record prices come almost a month before expectations that revolved around the upcoming halving season.

Bitcoin’s climb receives a significant boost from the successful launch of exchange-traded funds (ETFs) holding the cryptocurrency, sparking fresh momentum in its trajectory.

The price of bitcoin has hit a record high against the pound, rising above £54,000 on Tuesday for the first time in its history.

Bitcoin has also seen record highs against other major fiat currencies, reaching a new high against the Japanese Yen last month, with both the UK and Japan falling into recession at the end of last year.

The latest bitcoin rally has been primarily driven by institutional investment following the US Securities and Exchange Commission (SEC) to approve the first ever spot exchange-traded fund (ETF) for bitcoin in January.

This has seen major investment firms enter the crypto market for the first time, while also buoying sentiment for retail investors.

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