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Why is Bitcoin Skyrocketing? The Cryptocurrency Hits 2023 Record High
Bitcoin recently saw a big price increase. The cryptocurrency reached $35,150, making it the highest price in 2023. Experts say this jump is partly because people think a new Bitcoin ETF will soon launch in the U.S. Right now, the price of Bitcoin is $34,702, up 13.38% in just one day, according to data from CoinMarketCap.
Since the start of this year, Bitcoin's value has nearly doubled. However, it's still much lower than its all-time high. That was $69,000 back in 2021. People are hopeful that a U.S.-based Bitcoin ETF could bring a lot of money into the market. NYDIG, a finance company, thinks it could be as much as $150 billion.
Lucas Josa, a market analyst, adds more information. He works for Mynt, which is part of BTG Pactual, a financial services company. Josa says the price went above $32,000 when news came out about a possible ETF from BlackRock. BlackRock is a big deal because it's the world's largest manager of assets like stocks and bonds.
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🇬🇧 Video has surfaced of Henry Nowak’s killer, Vickrum Digwa, threatening people during a road rage incident with the same knife he later used to take Henry’s life.
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🚨🔍 Where the Iran conflict stands: Trump says deal in days — Iran says 'speculative' — Strait remains closed
President Trump called off another round of nighttime military strikes against Iran, then pivoted to announce that a deal is imminent – possibly signed in Europe this weekend, with JD Vance representing the US.
🇮🇷 Foreign Ministry spokesman Baghaei says reports of a signing are "speculative." Most of the text was ready, but the US kept changing its positions. Iran will not compromise on its red lines. The Strait of Hormuz remains closed due to "illegal US actions."
✡️ Netanyahu's office claims Trump assured Netanyahu that any final agreement would require Iran to remove enriched nuclear material, dismantle enrichment infrastructure, limit missiles, and end support for regional armed groups. Israel says it is not a party to the deal. Trump has not publicly confirmed any of this.
⚔️ Reality on the water: IRGC naval forces confronted an oil tanker ...
In case you missed it:
President Trump just effectively announced that the US will be putting boots on the ground to take Kharg Island in Iran in the near future.
Kharg Island, which is one-third the size of Manhattan and located in the Persian Gulf, controls ~90% of Iranian crude oil exports.
That's roughly 1.5 to 2.0 million barrels of crude oil exports per day.
Trump specifically says this would be a "Venezuela" style takeover, where the US would take complete control of Iran's oil and gas infrastructure.
If this happens, it would be the biggest escalation of the Iran War yet.
We expect to receive Iran's response shortly.
(@TheKobeissiLetter)
🛢📈 — The price of Brent crude oil is rising again after the renewed American aggression against Iran. In fact, it has been going up since Trump promised new strikes on Iran will happen today
🇮🇷❗️ — The statement is regarding the closure of the Hormuz:
From this moment on, due to insecurity in the region, the Strait of Hormuz is declared closed to the passage of any type of vessel, including oil tankers and commercial vessels, and any traffic will be targeted.
In continuation of the evils of the criminal America and in light of the beginning of the attacks of that country's aggressor army on some southern regions in Hormozgan province, from this moment on, due to insecurity in the region, the Strait of Hormuz is declared closed to the passage of any type of vessel, including oil tankers and commercial vessels, and any traffic will be targeted.
The US claim that the ship passed through the aforementioned strait is denied.
