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Cryptocurrency markets are starting to experience the best days of recent times. The most popular cryptocurrency bitcoin, spelled out more than $30,000 for the first time in nearly
Cryptocurrency markets are starting to experience the best days of recent times. The most popular cryptocurrency bitcoin, spelled out more than $30,000 for the first time in nearly a year. As such, other cryptocurrencies and tokens began to appreciate. So why has Bitcoin risen and how is the general situation in the markets?
In fact, Bitcoin (BTC) has been pushing for $30 thousand for a while now, but sales pressure led the way. In the morning this situation changed and BTC, which failed to cross the band of 29 thousand, 30 thousand 400 dollars rose to the level. The cryptocurrency, which last saw this level on June 10, 2022, in November 15 thousand dollars had fallen to his level. In the last stage we have reached, Bitcoin is 5 months old 100 percent worth it we can say.
Bitcoin 3 month price chart. Source: Coinmarketcap
BTC, which has gained more than 6 percent in the past 24 hours, appears to be starting another rally, especially in altcoins.
Bitcoin’s rise has had a positive effect on almost all altcoins. In this context; Ether worth about 3 percent (ETH) Binance Coin, valued at $1,916, about 4 percent (BNB) Ripple $327, worth around 4 percent (XRP) Cardano, valued at $0.52, about 4 percent (ISLAND) $0.4, worth approximately 2.5 percent Polygon (MATIC) Solana, valued at $1.12, about 8 percent (LEFT) reached the $22 level. Dogecoin (openly supported by Elon Musk)DOGE) did not respond to this rise at the desired level. This is because DOGE jumped from $0.07 to $0.10 a few days ago under the influence of Elon Musk himself.
“The size of the money on crypto currency exchanges”market volumeis low compared to the past. According to Coinmarketcap data, the total money in the market is as of now $1.23 trillion. However, this amount was at the level of USD 3 trillion at the end of 2021. The appreciation of Bitcoin and other altcoins can increase the inflow of money into the market.
*This content cannot be considered investment advice.
Source: Web Tekno
Jason Root is a blockchain enthusiast and author at Div Bracket. He provides comprehensive coverage of the latest developments in the world of blockchain, offering readers a unique perspective on the industry and its potential for revolutionizing various industries.
