Tech

Bitcoin continues to "explode", approaches the record

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The world's largest cryptocurrency, Bitcoin, is headed for an all-time high as cryptocurrencies return to action, The Guardian wrote on Thursday.

Bitcoin continued its rise today and rose 4 percent, passing above $63.

This puts Bitcoin on track to break the November 2021 record high of nearly $69. During 2022, there was a decline.

Bitcoin's gains in recent weeks have been fueled by the launch of new Bitcoin ETFs, approved by US regulators last month, which make it easier to trade the cryptocurrency.

These ETFs are buying Bitcoin – at a faster rate than they are being created. This is driving up the price. There are other factors that affect growth.