Bitcoin continues to rise, in the last seven days it climbs 11.19% and is dragging almost all cryptocurrencies upwards.
After the total surprise this Tuesday among the investors of Bitcoin Due to the strong rise that it carried out and that took it to exceed US$70,000, the leading cryptocurrency continues to rise this Wednesday and already Its price is close to US$71,000.. In the last seven days climbs 11.19% to above US$70,900.
That is dragging almost all cryptocurrencies upwards. In the case of Ethereum, is already close to US$3,700 and has accumulated an increase of almost 9% in seven days. Solana climbs no less than 86% in the last week and Dogecoin, no less than 123%.
Bitcoin drives the entire crypto market
On the other hand, within the framework of the altseason, there are some that are standing out. Book of Meme climbs more than 1000% in the last week. Dogwifhat rises 778% in that same period. And Floki, for his part, has climbed 547% in the last seven days.
He greed index is around 82 pointsa level of “extreme greed”, which indicates very good prospects for the crypto ecosystem in general.
Bitcoin has just registered several days of correction, even falling below US$61,000 after having reached a all-time high of $73,797.68 on March 14. However, now it is strongly betting on green again.
Cryptocurrencies: the reasons for the increases
One of the main reasons behind this upward trend is the Anticipation around the upcoming Bitcoin halving, scheduled for April 19. Analysts highlight that the halvinga scheduled event that halves Bitcoin miners’ rewards, has proven to be a major catalyst in the past, influencing Bitcoin price and market dynamics.
The halving event has been one of the key drivers behind Bitcoin’s bullish movement in recent months and there are expectations that a new bullish cycle will begin.
Furthermore, it should be noted that the introduction of financial products Like the Bitcoin ETF has opened new avenues for institutional investment, which could lead to greater market adoption and stability.
However, some voices warn that operators should be careful with higher volatility if we test the maximums again.
Source: Ambito
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