Bitcoin Surges to Highest Level in Nearly Two Years

Optimism about the cryptocurrency market and upcoming 'halving' event drive Bitcoin's value past $45,000

Bitcoin surged to its highest level in nearly two years, crossing the $45,000 mark for the first time since April 2022.
The surge is attributed to optimism about the cryptocurrency market, including expectations that the Federal Reserve will soon begin cutting interest rates and the potential approval of bitcoin exchange-traded funds.
Bitcoin's increase is also linked to the upcoming 'halving' event, which reduces the supply of new bitcoins by 50%, making the product a scarcer commodity and tends to raise the price.
Other cryptocurrencies such as Ethereum and Ripple also saw significant increases in their values.
Despite the positive outlook, uncertainties remain for the coming year, including potential future regulatory hurdles.