Daisy Watts 
Dec 06, 2023
Bitcoin, the world's most-traded and best-known cryptocurrency, rose 5% to $44,083 on Tuesday by adding $2,098 to its previous close.
As per what Reuters reported, Bitcoin is up 66.1% from the year's low of $26,533 it observed on Oct 11.
As a result of the bullish trend, another cryptocurrency that registered significant gains is Ether which rose 1.4% to $2,275.7 on Tuesday, adding $31.9 to the mark it closed a day earlier. Ether is the coin which is associated with the Ethereum blockchain network
Read also: Bitcoin surpasses $40,000 amid growing momentum
Earlier this week, the crypto giant Bitcoin crossed $40,000 for the first time in the current year.
With achieving the highest figure of the year, Bitcoin reached $41,522 and marked its highest value since April 2022, indicating a recovery from the downturn that affected crypto markets after the collapse of FTX and other crypto businesses last year.
This fruitful momentum was said to be driven by widespread optimism regarding potential US interest rate reductions and expectations of the impending approval of Bitcoin funds traded in the US stock market.
