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After months of declines and sideways movements, Bitcoin is once again starting to create excitement among investors. On Monday, the leading cryptocurrency surpassed $31,000. At midnight CEST, markets suddenly started moving wildly.
Within minutes, Bitcoin rose to $32,000, then to $33,000, then to $34,000, and finally to $35,000 for a few minutes.
Bitcoin later stabilized above $33,000 in rapid trading and did not initially appear to give up its gains. Following Bitcoin, the broader crypto market also made solid gains.
End of crypto winter?
Expert portal Coindesk writes that “there is hope in the market that the crypto winter is beginning to thaw.” With the renewed upward trend, Bitcoin returned to its values of one and a half years ago. The last date the Bitcoin price exceeded $34,000 was May 8, 2022.
Crypto is slowly becoming mainstream
Swiss banks now also offer trading and deposits of leading cryptocurrencies. Switzerland is one of the world’s leading markets for the development and regulation of blockchain technology.
The inventor of Bitcoin still remains a mystery
Bitcoin currently has a global trade volume of around $650 billion. Cryptocurrency was invented in 2008 by an unknown person or group of people under the name Satoshi Nakamoto.
The total number of Bitcoins that can exist is 21 million. For many investors, digital currency is also seen as a hedge against inflation and expansionary monetary policy by central banks.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
