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October 5, 2022
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Bitcoin

Bitcoin Breaks $ 40,000 And Goes To The Moon!

After the last breakthrough of $ 35,000, Bitcoin has begun another rally. First it broke the resistance of $ 36,000 and then hit $ 37,000. From that moment it was only a matter of a few hours. Bitcoin has just broken another psychological barrier of $ 40,000 and established another ATH.

There were also significant increases in the charts of most major altcoins, including ETH, EOS, XRP, XLM, LINK, BNB, OMG, NEO, TRX, BCH, DOT, LTC and ADA. Ethereum has overcome the resistance at $ 1,200 and is getting closer to the new gain of the new ATH. XRP has also started reconstruction, having recovered some of the losses caused by the SEC lawsuit. Currently, we have to pay 0.35 USD for one Ripple token.

Successful start to the year for “digital gold”

The wild start of 2021 came after a landmark period in which the cryptocurrency grew by over 300%. The 50% increase occurred in December alone. On November 30, Bitcoin surpassed the 2017 ATH of $ 19,793. By December 31, the flagship cryptocurrency had risen by $ 10,000 to add another $ 10,000 in just seven days of 2021!

The main catalyst for such a boom is the growing perception that Bitcoin is “digital gold”. It was this conviction that led to the market flooding with funds from institutional investors’ portfolios. However, today’s records may have something to do with confusion in the US Capitol, triggered by supporters of President Donald Trump.

Bitcoin 8th most valuable asset in the world

Global macro uncertainty threatens to devalue fiat currencies, which in turn could potentially increase the attractiveness of cryptocurrencies. With a capitalization of over $ 700 billion, Bitcoin it is now more valuable than all but eight listed companies.

The supply on the stablecoin market is keeping up with the huge increases in BTC. Since the New Year, Tether’s supply has increased by more than 10%. The total supply of the runner-up stablecoin, USDC, also grew by double-digit percent and now stands at USDC 4.3 billion according to Glassnode.

Current course You can always check Bitcoin and other cryptocurrencies in the tabs: exchange rate Bitcoin and the cryptocurrency rate on the website . A place where you can buy BTC and more coins, include cryptocurrency exchange BitBay.net. If you do not have an account on BitBay yet, from this article you will learn how to efficiently create one: LINK.

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