In March, the banking crisis boosted the price of crypto assets, which fell as the market stabilized, but this Monday, Bitcoin rises just like Ethereum.
This Monday, Bitcoin (BTC)The main cryptocurrency of the world, trades up and it is recovering ground, after having fallen from the maximum of US$29,184, which it had reached in March. At the end of last month it had fallen back to US$27,511 and then rebounded, so that April began to rise and, on the first day of this week, it rose 0.38% to US$28,279.
Thus, BTC rose 2% in the last seven days and fell 0.31% in the last 24 hours, after a month in which rose almost 20% and having achieved a 70% advance in the first quarter of the year, as a consequence of the crisis suffered in March by various international banks, such as the Silicon Valley and Credit Suisse, who should have been rescued by their countries. This strongly affected the stock markets and benefited the cryptoassets.
These days, investors seem to continue seeking refuge in cryptocurrencies because many believe that the tremors caused by the financial crisis of the banks in recent weeks have not yet finished.
“Bitcoin has remained resilient over the last week, which has led to a general improvement in market sentiment,” says Joe DiPasquale, CEO of crypto asset manager BitBull Capital. This expert highlights that the queen cryptocurrency is trading above its 200-day moving average, which is “historically a strong indicator of bullish price action”.
However, gurus foresee that both Bitcoin Like the rest of the cryptocurrencies, they are entering an upward cycle, although it is still premature to think that the so-called “crypto winter” has passed.
However, this Monday, Bitcoin does not rise alone. Ethereum rises by 0.27% in price to 1,807.97; Litecoin scales 0.7% to 96.2%; Solana rose 0.24% to $20.48 and Dogecoin rose 0.30% to $0.078.
This occurs in a context where the dollar weakens against other world currencies, as a consequence of the announcements of cuts in oil production in the world, which could imply an inflationary escalation. This creates some uncertainty regarding the future rate policy of the world’s main central banks and this could harm cryptocurrencies going forward.
Source: Ambito
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