Bitcoin’s price continues to show signs of recovery, reaching $27,000, the highest price in nine months since last Friday.
Bitcoin has been on the rise in price over the last few months, making a more deadly recovery than at other times, but has been around $27,000 since the morning of March 17th. This asset continues to fluctuate between $26,000 and $27,000 for him over the weekend.
The last time the cryptocurrency touched its price was June 12, 2022, when it was declining. At the time, he finally hit $30,000, a price he hasn’t returned since June 10 last year.
The value of each Bitcoin coin has increased by $11,000 (68.7%) from about $16,000 on January 1st last year.
And last week it was up about $7,000 (35%) after trading at $20,000.
The lowest price Bitcoin has fallen in the last few hours is around $26,685 and the highest is $27,715. By 8:22 am this Sunday, it was worth $27,424.
Despite the rise, Bitcoin is far from the value reflected a year ago. On April 19, 2022, the most famous cryptocurrency traded at $42,000. This represents a $15,000 reduction in its value, equivalent to 68.7%.
Cripto Noticias, a site dedicated to cryptocurrencies, attributed some of its strong performance to the US Federal Reserve’s (Fed) injection of about $300 billion into the country’s banking system between loans and aid. It is explained that there is in the midst of a financial crisis.
The Cointelegraph platform showed this weekend that Bitcoin’s market cap will add $194 billion so far in 2023, growing 66% so far this year.
According to Cointelegraph, “Bitcoin has been detached from U.S. stocks for the first time in a year, and its price is up nearly 65% in 2023, while the S&P 500 is up 2.5% and the Nasdaq is down 15%. 08:40 AM