By: PDOGE, Editor's team  

Bitcoin has been on a rollercoaster ride in terms of its value, and it has been surging again recently. According to a CNN Business article, the price of Bitcoin has more than doubled in value this year as investors grow excited about the prospect of being able to buy Bitcoin funds that trade on good old-fashioned stock exchanges rather than having to deal with less-regulated and sometimes sketchy crypto platforms. The latest round of excitement came as the BlackRock exchange-traded fund for Bitcoin appeared on a list controlled by the Depository Trust and Clearing Corp., a Nasdaq-operated clearing house for stocks and ETFs. BlackRock applied in June to register a Bitcoin spot ETF, which is pending approval. The company is the largest provider of ETFs in the world, managing trillions of dollars of assets. A BlackRock Bitcoin ETF would give the cryptocurrency a new sense of legitimacy.

In addition, according to Coinpedia, Bitcoin and crypto market trading volumes are surging, driving up prices. Long-term investors are holding on to their coins, boosting market growth. Bitcoin is regaining dominance, which could lead to increased interest in altcoins.

Finally, according to Cointelegraph, although Bitcoin price could struggle to hold the $30,000 level, a certain degree of the bullish momentum is likely driven by institutional investors’ recent amendments to multiple spot Bitcoin exchange-traded fund (ETF) applications and retail investors’ hope in the upcoming Bitcoin supply halving.

It’s important to note that while these factors may be contributing to the recent surge in Bitcoin’s value, there are still regulatory and legislative concerns that could cloud this market. As always, it’s important for investors to do their own research before making any investment decisions.