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Analysts name the reasons for the sharp growth of the bitcoin cryptocurrency per day

12:39 pm, July 17, 2024

Bitcoin continues to impress the market with its rapid growth, reaching $ 66,000. Over the past day, investors have invested $ 420 million in bitcoin ETFs.

Cryptocurrency analysts attribute this growth to several key factors. First, a significant inflow of funds to bitcoin ETFs (exchange-traded investment funds) has stimulated investor interest. Investments in these funds have become more accessible to a wide range of investors, which has led to an increase in trading volume and a rise in price.

Secondly, the rise in bitcoin’s price is partly due to a reduction in market uncertainty. Regulators in the United States and other countries are gradually making decisions that promote the development of the cryptocurrency market. The introduction of clear regulations and the support of large financial institutions have increased confidence in bitcoin as an investment asset.

The third factor is the general trend of growing interest in cryptocurrencies. In recent months, bitcoin has become one of the main assets for protecting capital from inflation. Investors see it as an alternative to traditional assets such as gold, which also pushes the price up.

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