Positive news for Bitcoins new growth
After a long time, it is positive news that the crypto currency and especially Bitcoin have given a new growth spurt. After the cryptocurrency was declared a legal tender in the state of El Salvador, there are slight signs of recovery in the exchanges. BTC has grown from 27,000 to 30,000 within a day and has thus gained a whopping 10%.
In the following of Bitcoin, the rest of the market has also grown, with a complete 100 billion dollars in capitalization added within the last day from 1.20 to 1.32. The growth affects altcoins across the board, with only individual values, showing stronger growth rates than BTC. Overall, the new push seems to be stagnating again.
Is Sideways Movement In Prospect?
After the crypto market recorded strong growth to ever new levels in the first few months of 2021, after the crash in May there now seems to be a stabilization at a higher level - Bitcoin has now been hovering at around 30,000 for about two weeks and Ethereum also seems to have stabilized just above the 2,000 mark. Again and again there are major downward falls, larger upward outbreaks traders currently do not dare to participate.
The crypto index is currently clearly on fear - which means for many not to invest at the moment, while others take the opportunity to buy coins and tokens. The software companies borrow another 400 million dollars on the market in order to buy Bitcoin again with this money.
Potent investors are currently certainly not shy of investing in the sector despite the crash in May. There are several examples of this. The makers of an optional to Ethereum, has raised more than 300 million from investors, and the stablecoin makers more than 400 million. Large, well-known companies are thus showing that they still have a will for blockchain and cryptocurrencies.
The contents of this article are for informational purposes only and are not investment advice.