Bitcoin, the largest digital asset, oscillated around the landmark value of US$50,000, a level it hadn’t touched in over two years. This marks a remarkable resurgence following the various cryptocurrency scandals and industry wipeouts that had previously cast a shadow of uncertainty over the sector’s future.
Yesterday, in the United States, Bitcoin’s value soared to an impressive US$50,328, and it was traded at US$49,980 by Tuesday 7.40am in Singapore. The digital currency has witnessed a threefold increase in value since 2021 started, following a significant slump of 64% in 2022. However, Bitcoin has yet to reach its all-time high of just under US$69,000, which it achieved in November 2021.
The extreme price variations that Bitcoin has experienced since its inception over a decade ago have consistently drawn speculators. Although it was initially…
