Other crypto values, such as Ether or Tether, have recently somewhat recovered from the sometimes significant price losses in 2022. The market value of nearly 22,300 digital systems is still around one trillion dollars.
After recovering last week, bitcoin rallied above $21,000 over the weekend. On Monday night, a peak of $21,433 was set on the Bitfinex trading platform. This is the highest level since the end of October.
Ether, the second-largest digital currency by market capitalization, has to be repaid at more than $1,500, which is more than it has since the beginning of November. Recently, one bitcoin cost $20,800.
The course of many cryptocurrencies had collapsed over the past year. Bitcoin dropped from just over $46,000 to just under $16,000. A major reason was the turnaround in interest rates by many central banks, and turning investors away from risky assets like digital currencies. A second reason was the collapse of the major crypto exchange FTX, which dealt a serious blow to the entire industry. Distrust of crypto companies has grown rapidly.
The situation has eased somewhat since the beginning of the year. Crypto expert Timo Emden commented, “What is clearly arousing risk appetite is the US Federal Reserve’s hope to slow the pace of the rate hike cycle,” he also warned: “The current price rally is impressive and frightening at the same time.
Private investors in particular were now able to come up with the idea of chasing rising prices.” Crypto assets like Bitcoin are considered highly volatile. Regulators regularly warn against inclusion, especially by small investors.
(SDA)
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.
