Despite failing to return to trading near all-time highs, the leading cryptocurrency in the market has exhibited a significant rebound in the last 15 days.
From the annual minimum of US$15,506 on November 21 to the current price of around US$17,000, which implies a noticeable appreciation.
What will happen to the price of Bitcoin?
Last week was auspicious for the Bitcoin price, largely due to market expectations that the Fed’s latest interest rate hike will be less than 0.75%.
This increase has been repeated four times since last July, but the fact that inflation has slowed since then leads the market to expect a lower rate increase.
Over the past seven days, all three major stock indices posted weekly gains, albeit smaller than BTC’s. The Nasdaq rose the most, almost 2.1%. The S&P 500 rose 1.1% and the Dow 0.2%.
The close on Friday the 2nd marked the first time the three major indices posted consecutive weekly gains since October.
On the other hand, Blackrock CEO Larry Fink said that despite what happened with FTX, the technology behind bitcoin has these reasons to prevail in the future.
Source: Ambito
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