Cryptocurrency exchanges, which spent 2022 under a great uncertainty, gave their investors anxiety for a long time. Bitcoin, which has been circulating under $ 20 thousand for a long time, delights its investors in the first weeks of 2023.
Bitcoin hits over $20,000 for the first time since November
The sinking of FTX, one of the world’s largest cryptocurrency exchanges, in November caused a black cloud to circulate in the stock market. Seeing the levels of 65 thousand dollars in 2021, bitcoin could not pass the 20 thousand band in this process. But that seems to have reversed this week.
Bitcoin, which is on the rise, has risen above the $ 20 threshold. Bitcoin, which saw $ 20 thousand 250, gained more than 20 percent in the first two weeks of this year. According to Craig Erlam, senior market analyst at foreign exchange market producer Oanda, this situation is not temporary. “This is a sign of potential revival,” Erlam said, adding that the uptrend will continue.
The economic recession all over the world causes central banks to increase interest rates. This situation opens the door to a decline in crypto money and stocks. While struggling, the drop in cryptocurrency values coincided with the drop in US stocks. Since the beginning of last year, Bitcoin has lost about 65 percent of its value.