Bitcoin rises above US$25,000, hits highest point in 8 months

Bitcoin’s price surpassed $25,000 on Thursday (16), an eight-month record high despite pressure from U.S. regulators. According to AFP, Bitcoin has gone up by 50% this year, but it is still a long way from its peak of $68,992 in November 2021. At one point today, the price of bitcoin went up to $25,249. This is the highest it has been since June last year and the first time it has been above $25,000 since August of last year. Craig Erlam, an analyst at the online trading platform OANDA, told Central News Agency, “While the crackdown by regulators is still a little unsettling, it’s clear that people are getting more and more relieved that the worst times for the industry are over and that 2023 could be much better.” A more optimistic view of the global economy’s future has helped boost cryptocurrencies and other markets. Today, stocks in Paris and London also hit new record highs.