Dusseldorf It has long been seen as a potential risk for tech stocks and cryptocurrencies to move in the same direction. In January, however, many investors are likely to have been pleased about the strong correlation. Both asset classes made strong gains.
On the US stock market, the Nasdaq 100 technology index rose by more than ten percent, marking the best start to the year in more than 20 years. On the crypto market, Bitcoin even rose by 40 percent, achieving its best January result since 2013.
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This recovery is particularly surprising for Bitcoin, as the industry is in a crisis of confidence after various scandals and bankruptcies of crypto projects in the past year. In 2022, the price had fallen from around $50,000 to $15,600. Most recently, it was again at a level of around $23,000.
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