They have become the most controversial investment instruments in recent years. crypto assets, they are a long way from their former popularity. The markets, which reached nearly $3 trillion in volume in the second half of 2021, are now hovering around $1 trillion. But very soon this seems to be changing. Because Bitcoin (BTC) recently one of the steepest ascents hosted one.

The BTC price, which has been horizontal between $23,000 and $29,000 since the beginning of this year, has seen a significant increase in recent hours. Just 24 hours ago 30 thousand 500 dollars BTC traded at levels within a few hours for 35 thousand dollars He threw a needle. The increase on a daily basis was more than 10 percent. Although there is a slight downturn at the time of writing this article, it appears that a new era is dawning for the cryptocurrency markets.

The highest level of the past year and a half was reached

*BTC price chart. Source: TradingView

If we look at the BTC price chart, the last level is 35 thousand dollars in May 2022 We are witnesses to it being seen. In other words, the BTC price last saw these levels a year and a half ago. In the meantime; The $30,000 level, which is a major resistance point for Bitcoin, was broken with this increase. Investors are now looking towards the USD 30,200 level. fulcrum They’ll start to see it as.

The faces of altcoins are also smiling

The strong rise of BTC also led to a rise in the price of altcoins. In this context; the most popular If we look at the situation in 10 crypto assets, we see that the overall upward trend has begun. Ethereum (ETH) 7 percentBinanceCoin (BNB) 3 percent, Ripple (XRP) 3.27 percent, Solana (SOL) 0.45 percent, Cardano (ADA) 5.13 percent, Dogecoin (DOGE) 6.67 percent, Tron (TRX) 6 percent increased by 2.32.

Why are cryptocurrencies rising?

There are two main reasons for the rise of the cryptocurrency markets. One of them, Bitcoin Halving Era That’s because it’s so close now. Let us explain for those who don’t know: It is believed that the Bitcoin Halving period will be the beginning of the bull season. Moreover, the US Securities and Exchange Commission (SEC) is about to approve ETF applications that will allow massive funds to be dedicated to BTC. This is too much for the market large cash flow resources. These two reasons cause an increase in the markets.

REMARK: Crypto assets are risky investment instruments. This article cannot be considered investment advice.