Thursday, 16 February 2023

Bitcoin passes $24k for 2nd time in February (Cryptoslate)

by Berkeley Lovelace

Bitcoin (BTC) has surpassed $24,100 for the second time this month.

As of 10:00 p.m. UTC on Feb. 15, Bitcoin was valued at $24,103. That price means that the cryptocurrency now has a market cap above $465 billion.

Bitcoin passes k for 2nd time in February (Cryptoslate)

The asset’s price briefly reached this level during another rally earlier this month. On Feb. 1 and on the following morning, it was valued close to its current price.

Apart from those brief gains, Bitcoin has not seen its current market value since August 2022. As such, prices this month represent a six-month high.

Though there has been little positive news today, a lack of bad news may have helped Bitcoin gain value. Specifically, an absence of regulatory crackdowns today may be to credit for the asset’s gains. Though regulators took action against Kraken and Paxos over the past week, there were no high-profile actions against the crypto sector today.

In terms of percent-based gains, Bitcoin’s price rose 8.4% over the past 24 hours. Its main competitor, Ethereum (ETH), saw slightly smaller gains of 6.9% today.

Other cryptocurrencies in the “Top 10” category performed similarly. Binance’s BNB token (BNB) was up 5.9%, Ripple’s XRP token (XRP) was up 5.3%, Cardano (ADA) was up 4.1%, Dogecoin (DOGE) was up 5.6%, and Polygon (MATIC) was up 4.5%.

The post Bitcoin passes $24k for 2nd time in February appeared first on CryptoSlate.