Business/Finance

Bitcoin hits a six-month high, trading at almost $60,000 Friday

Access Bank
The world’s most popular and largest cryptocurrency, Bitcoin, was up by 3.52% on early on Friday to trade at $59,684.77 as it nears $60,000 with investors eyeing first US ETFs.

Bitcoin hit a six-month high early hours of Friday, approaching the record hit in April, as traders became increasingly confident that U.S. regulators would approve the launch of an exchange-traded fund based on its futures contracts.

The world’s biggest cryptocurrency hit its highest since mid-April, doubling in value this year and is near April’s record high of $64,895.

The U.S. Securities and Exchange Commission (SEC) is poised to allow the first U.S. bitcoin futures ETF to begin trading next week, Bloomberg News reported on Thursday, citing people familiar with the matter.

The cryptocurrency market is now worth more than the world’s most valuable company after bitcoin and several leading altcoins surged in price on Thursday. The global crypto market cap is now $2.37 trillion (£1.73tn), overtaking the $2.33tn market cap of Apple.

Meanwhile, the world’s second-largest cryptocurrency by market capitalization, Ethereum, was up by 5.38% on Thursday evening to trade at $3,826.07.

Also, Nigeria traded about $32.16 million in Bitcoin in the month of September, indicating a drop compared to $44 million recorded in the previous month. The total trading volume between January and September 2021 stood at $315.76 million.

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