Bitcoin passes $24k for 2nd time in February

Bitcoin (BTC) has crossed $24,100 for the second time this month.

As of 10pm UTC on February 15th, Bitcoin was worth $24,103. That price means that the cryptocurrency market capitalization is now over $465 billion.

The asset’s price briefly reached this level during another rally earlier this month. On February 1st and the next morning it was evaluated at a price close to the current price.

Aside from these short gains, Bitcoin has not seen its current market value since August 2022.

There was little positive news today, but the lack of bad news may have boosted Bitcoin’s value. Specifically, the current lack of regulatory enforcement may be contributing to the asset’s return. While regulators have taken action against Kraken and Paxos this past week, there have been no high-profile actions against the crypto sector today.

In terms of percentage-based profits, Bitcoin’s price has risen 8.4% over the past 24 hours. Its main competitor, Ethereum (ETH), posted a slightly smaller 6.9% rise today.

Other cryptocurrencies in the Top 10 category performed similarly. Binance’s BNB token (BNB) was up 5.9%, Ripple’s XRP token (XRP) was up 5.3%, Cardano (ADA) was up 4.1%, Dogecoin (DOGE) was up 5.6% and Polygon (MATIC) was up 4.5%.

Journalist at CryptoSlate

Mike trained in library and information science before moving to writing on cryptocurrencies in 2018. He lives on the west coast of Canada.