Bitcoin, the world's largest cryptocurrency, has risen in value by 12% in 24 hours.
Last year, many cryptocurrency exchanges went bankrupt, leading to a major downturn in the cryptocurrency market.
Earlier, some cryptocurrency commentators had predicted that BTC's price would return to $10,000.
A Santiment report indicates that BTC reached a six-month high, surprising bearish traders.
In addition to Bitcoin, other cryptocurrencies have also seen price increases: ETH's price is up 5%, ADA's is up 7%, and MATIC's is up 9% in 24 hours.
At the time of writing, Bitcoin's price is $24,684.
This price surge represents a significant increase in Bitcoin's overall value.
Bitcoin has been subject to volatile price fluctuations over the years, with rapid surges and dips.
Many investors and traders closely follow Bitcoin's price movements as an indicator of market trends.
Bitcoin's popularity has continued to grow, with many people seeing it as a viable investment option despite its volatility.
Charlie Munger expressed his views about cryptocurrency in an interview with CNBC.
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