FOMO Trumps Exchange Chaos: Bitcoin Surpasses $40K

<p>The US dollar value of Bitcoin has surpassed the $40,000 mark in the early Asian trading hours today (Monday). As of press time, the original cryptocurrency is inching closer to $49,000 apiece, gaining about 3.8 percent in the past 24 hours.
</p><p>A Remarkable Milestone for Bitcoin
</p><p>With the ongoing rally, Bitcoin crossed the $40,000 level for the first time in 19 months since early May 2022.
</p><p>Meanwhile, the push in the price was not limited to Bitcoin. Ethereum, the second-largest crypto by market capitalization, is trading beyond $2,200 a piece. In the past seven days, Bitcoin gained 9.5 percent, while Ethereum increased by over 8.3 percent.</p><blockquote><p lang="en" dir="ltr">One idea I’ve been contemplating is that Bitcoin may be the key to extending western civilization.The natural trend of whichever country has the reserve currency is to inflate the money supply and increase deficit spending until it loses that advantage. The U.S. is somewhere on…</p>— Brian Armstrong