Bitcoin is now showing a dramatic increase in value, today surpassing the value of 1 Bitcoin equivalent to RM301,000. This increase in value is said to be in line with the increase in ETF investment, in addition to the Bitcoin "halving" that will follow around April.
By "halving", it will reduce the production of Bitcoins by half, at the same time making the demand higher than usual, leading to a higher price increase for each Bitcoin.
This process has been coded into the development of Bitcoin itself, thus reducing the output of Bitcoin mining activities.
Some analysts are also targeting that it will soon reach a higher value, while possibly breaking the record for the highest value ever achieved by Bitcoin.
Parallel to the increase in the value of Bitcoin, various other cryptocurrencies also received a boost and showed an increase in value.