For the first time since November 7, 2022, flagship cryptocurrency, Bitcoin, showed some signs of recovery.
The cryptocurrency, which traded below $17,000 since the FTX issue, rose above $21,000 on Thursday, January 14, 2023.
As expected, traders, investors, and enthusiasts were excited to see the little ray of sunshine even though it is a far cry from the $68,000 price the cryptocurrency crashed from.
The value of the entire crypto market rose to $990 million, rising 19% from $831 million in November 2022.
Crypto influencer and full-time trader, Ademi, said the rise is likely due to a reduced supply of Bitcoin and Ethereum in the market. CNBC corroborated here’s stance, saying there’s been a huge buyup of the cryptocurrency by large buyers known as whales.
Article by: chpoint.africa
January 26, 2023 - BY Admin