Bitcoin price exceeds gold again, "Bitcoin ETF" may boost the market

The price of Bitcoin has reached $1,260 on major U.S. dollar trading markets, setting a new all-time high and once again successfully surpassing the spot price of gold per ounce.

According to the spot gold/US dollar instant exchange rate provided by Bloomberg Markets, the current spot price of gold per ounce is US$1,237.73.

The bitcoin trading market has seen a dizzying amount of change in recent weeks, with the price of bitcoin hitting a three-year high on February 23 and continuing to climb ever since.

The sentiment in the market is generally bullish at the moment, and traders appear to have taken proactive actions, awaiting the final decision from the U.S. Securities and Exchange Commission (SEC).

It is reported that officials from the U.S. Securities and Exchange Commission met with twin brothers Tyler and Cameron Winklevoss on February 14 to discuss their Bitcoin ETF plan, and on March 11, the U.S. Securities and Exchange Commission will decide whether to approve the first Bitcoin ETF.

Some analysts said that if the Bitcoin ETF is approved, $300 million will be injected into the Bitcoin ETF in the first week, which may push the price of Bitcoin to a new high. However, others believe that the probability of the Bitcoin ETF being approved is not high, and if it fails, it may cause a correction in the price of Bitcoin.

Overall, this is only the second time in history that Bitcoin has surpassed the price of gold per ounce, but it is worth noting that the first time in history only occurred on one exchange, Mt Gox, and its duration was relatively short.