The price of Bitcoin is on the rise again this morning, after a recent slump. As of 7:15 AM EST, Bitcoin is trading at $40,217.61, up +988.72 (+2.52%) from yesterday’s close. This is the highest price that Bitcoin has been at in over a week.
The recent surge in price is likely due to a number of factors, including increased demand from institutional investors, and positive news from the cryptocurrency industry. For example, earlier this week, it was announced that the US Securities and Exchange Commission (SEC) had approved the first Bitcoin ETF. This is a major milestone for the cryptocurrency industry, and it could lead to even more investors buying Bitcoin.
Source (CNBC)
