Bitcoin started the New Year on a strong note, surpassing $45,000 on Tuesday for the first time since April 2022.
The cryptocurrency‘s impressive performance in 2022 saw a gain of 156%, marking its highest yearly performance since 2020. Despite reaching a 21-month high at $45,532, Bitcoin is still below its record high of $69,000 achieved in November 2021. As of the latest data, it was trading at $45,318, up 2.5%.
Ether, the token associated with the Ethereum blockchain, also witnessed a positive trend, closing 2022 with a 91% gain and starting the new year 1.45% higher at $2,386 on Tuesday.
Investors are closely monitoring the potential licensing of exchange-traded spot bitcoin funds. The U.S. Securities and Exchange Commission (SEC) has previously denied numerous requests for spot bitcoin exchange-traded funds, citing concerns about market manipulation. However, there are signs that authorities may approve some of the 13 planned spot bitcoin ETFs, with a decision expected in early January. Approval of such ETFs could attract significant investments and expand bitcoin market access to a broader audience.
