As the Bitcoin (BTC) price started to rise again, the shares of companies related to the cryptocurrency industry began to gain value.
Shares of Bitcoin mining companies such as Cipher Mining, Mawson, Core Scientific, Sphere 3D, TeraWulf, Bitfarms, Marathon Digital and Hut 8 gained between 5-15%.
Bitcoin, which started to rise on Friday, decreased by 0.59% on a daily basis today. From 41 thousand 574 dollars continues to be traded. Bitcoin price at the beginning of the week below $39 thousand had fallen.
In reserve with cryptocurrency exchange Coinbase 189 thousand 150 Bitcoins The shares of MicroStrategy, which owns the company, increased by 3-5%.
Shares of cryptocurrency companies had fallen along with Bitcoin throughout the week. The decline in the market is thought to be largely due to selling from Grayscale Bitcoin Trust (GBTC).
10x Research Research Manager Markus Thielen said the decline in the market after ETFs were approved it’s temporary he thinks. Thielen, “Now is not the time to be bearish.” he added:
“The time to be bearish was when Bitcoin was trading at $44k and we said there would be a correction towards $36k/$38k. If it dips further to buy again “We would start.”