• Bitcoin (BTC) price crossed the $31,000 mark while the Ethereum (ETH) is nearing the $2,000 milestone.
• The surge of Bitcoin’s price can be attributed to several prospective Bitcoin ETF issuers who resubmitted their applications.
• Both Bitcoin and Ethereum have seen an impressive surge in prices since the beginning of 2023.
Bitcoin Price Breaks $31K
Bitcoin (BTC) has broken the $31,000 mark, showing a surge of 38% over the past 24 hours and bringing its total increase since 2021 to 89%.
Ethereum Nears $2K Mark
Ethereum (ETH), which is currently trading at around $1,955, has also experienced a significant price rally over the past week with an increase of 4.5%. Since 2021 it has recorded an impressive 63% rise in value.
Renewed Interest in Crypto Market
The renewed interest in crypto markets sparked by several potential Bitcoin ETF issuers refiling their applications has given both Bitcoin and Ethereum a significant boost in prices. This wave of optimism has attracted more traders and investors into these digital assets.
BlockRock Refiles for Bitcoin ETF Application
BlockRock, one of the potential issuers for a Bitcoin ETF application refiled their application earlier this month which further contributed to the price rally seen across cryptocurrency markets today.
Conclusion
With both Bitcoin and Ethereum hitting new highs this month, there is no doubt that renewed interest from traders and investors alike will continue to propel these digital assets forward. It remains to be seen whether or not they will reach even further heights as they continue to experience rapid growth throughout 2023.