Bitcoin price rose to $20,000
Yesterday, Sunday, bitcoin price settled above the $20,000 level for the first time in more than two months in last Saturday's trading.
The market share of the largest cryptocurrency rose to 40.98% of the total cryptocurrency market , after achieving gains of 7.8%, to $20,853.
Bitcoin added a 26.4% gain from its year low of $16,496 on January 1.
Ether, the currency linked to the Ethereum blockchain, rose 5.91% to $1,536.9 on Saturday, adding $85.90 to the previous close.
The market capitalization of cryptocurrencies rose to a total of $975.66 billion, and is close to breaching the $1 trillion mark again.
On the other hand, the value of cryptocurrency trading witnessed great activity, as it increased by 80.2% during the last 24 hours, recording transactions worth $89 billion.
On the other hand, the bitcoin price reached about $16.5 thousand, which has been hovering around it since mid-December, amid indications of a recession in the country. The global economy, the decline in liquidity, and many negative news that caused problems,including the collapse and bankruptcy of the FTX platform and other platforms, and some of these crises continue and have not yet been resolved.
And some financial experts assert that it is possible for some investors to bet on the decline in the price of Bitcoin so that they can control and obtain greater influence in the market, and therefore they were forced to liquidate financing operations to buy Bitcoin and cover their exposure. positions.
Where financial experts say that it is possible that some investors bet on the decline of the Bitcoin currency so that they can control again and have a great influence, and therefore they were forced to liquidate financing operations to buy Bitcoin and cover their exposed positions.
They attribute the reason for the rise to the change in the US Federal Reserve’s view of continuing to raise interest rates, and thus the markets began to change and recover, while the price of bitcoin rose by about 20% since the beginning of this year, which is a bright start.
But will the rise of cryptocurrencies continue, or is it a “new trap” to trap investors?
Bitcoin recorded for the 13th consecutive session, crossing the $21,000 barrier for the first time since last November.