Digital Currency Bitcoin Nears All-Time High

Recent speculations that the Securities and Exchange Commission may approve the creation of the first Bitcoin exchange-traded fund (ETF) drove the cryptocurrency to an all-time high of $1,206.60 on Friday. It already surpassed its previous high of $1,165.89 back in November 2013.

Best Performing Currency

Although Bitcoin was considered to be too volatile and risky, the web-based currency’s performance was actually better compared to other currencies since 2010. It can be noted though that it was the worst-performing currency in 2014, when its value plunged more than 56%, even worse than the Russian ruble which retreated to 42% for the same year.

Final Rule Come March 11

Experts believe that an ETF regulatory approval will make the currency more attractive for cautious traders who still see it as not liquid enough to consider adding to their portfolio despite its potentially high returns. Currently there are three ETF proposals at the US Securities and Exchange Commission. The proposal that has been filed by investors Cameron and Tyler Winklevoss almost four years ago will be decided on by March 11 by the agency.

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

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