The price of Bitcoin surpassed $60.000 for the first time since May. In the last 24 hours, the coin's price went up by around 5%.
Several factors boosted the BTC price. One of them is the possibility of the first Bitcoin ETF launch in the US next week. Another factor is that viewing crypto as an alternative to fiat becomes more common. Today US senator from Wyoming Cynthia Lummis said during her speech at Congress: "Thank God for Bitcoin and other non-fiat currencies that transience the irresponsibility of governments".
Bitcoin reached its all-time high of $64.863 on April 14, 2021. After China's announcing the Bitcoin mining crackdown in May, the price even hit $29.800 on July 20. In recent months, Bitcoin price was hovering between $40.000 and $50.000.
On October 6, it broke above $55.000, and today the coin surpassed $60.000, its highest mark in 5 months. Bitcoin network's hash rate also started to recover in Q3, as miners move from China to other countries.