On the night of Tuesday, February 13, the largest digital currency rose to $50,118. The last time it was at this level was in December 2021, Bloomberg reports.
However, BTC is still significantly below the record values recorded in November 2021, when it was approaching $69,000.
Analysts believe that the bitcoin run was the result of speculation on the American stock market. They were triggered by the January launch of exchange-traded ETFs investing in digital currency.
Strategist Miller Tabak & Co. Matt Maley said that the rise of BTC can also be linked to reports about the readiness of the Federal Reserve System to reduce the discount rate.
The US authorities may ease monetary policy if inflation risks are eased in February-March.
Shares of companies related to the cryptosphere also gained significantly on the eve. For example, the capitalization of IT developer MicroStrategy increased by 10%. Shares of the Coinbase exchange rose by 4.8%.
Following the results of trading on the stock market on Monday, almost all bitcoin miners also showed growth. Marathon Digital became the best, it jumped by more than 12%.