Bitcoin cryptocurrency achieved its peak price level for three years on Thursday and stays within some dollars from all-time maximum price, assuming the first bitcoin exchange-traded fund (ETF) is supposed to get approval from the US financial regulator. Traditional financial players mainly avoided the web-cryptocurrencies, considering it to be too much changing, complex and risky and being not confident about their value.
Having increased by 17% this year, the cryptocurrency grew by 3% more, reaching the peak of $1160 per Bitcoin at the Bitstamp Europe exchange. Let us remind you the all time maximum was achieved on November 17, 2013 when the price achieved $1216.73 on Mt Gox stock exchange, which is dead now. Some analysts claim the regulator's approval of Bitcoin ETF will make the cryptocurrency attractive for institutional investors who prefer being cautious on the market.
Three stock exchange index funds that track the value of bitcoin have been filed with the U.S. Securities and Exchange Commission for approval. The SEC will make a decision by March 11, whether they should approve the one submitted nearly four years ago by Cameron and Tyler Winklevoss. If approved, it is going to become the first Bitcoin ETF issued and regulated by the US organization.
During the previous year the largest daily growth rate of Bitcoin was about 10% - very volatile compared to traditional currencies, though it's significantly less than daily fluctuations up to 40% in 2013. Bitcoin grew by 125% in 2016, being ahead of all other currencies, as it used to be year since 2010 bar 2014. The S&P 500 stock index rose 9.5% last year.
