Bitcoin seems to have finished the correction for good. Currently, you have to pay over USD 38,000 for 1 BTC. This means a jump in the rate by more than 10 percent. on a daily scale!
Bitcoin over $ 38,000
While many have argued that the BTC bubble has burst for good, the cryptocurrency is recovering. At the time of writing these words, you have to pay around $ 38,500 for one bitcoin. This means a price jump of 12 percent. per day and as much as 21 percent if we look at the price chart on a weekly scale.
Ether is just as good. You have to pay $ 2,333 for 1 ETH. This, in turn, means a price jump of 8%. within 24 hours and 23 percent. on a weekly basis.
The forces are recovering and other leading cryptocurrencies, which only underlines the fact that today bitcoin remains the so-called A “herd guide” in the digital asset market.
The reasons for the BTC price jump
But why did the BTC price rise? First, it is probably a reaction to the last, deep correction, during which BTC fell even below the important, psychological level of USD 30,000 (although – let’s add it – briefly).
But that’s not all. Last week, Elon Musk again spoke about BTC. He admitted that he owns BTC, ETH and some DOGE. He added that it was not and was not in his interest to attack the cryptocurrency. Moreover, he admitted that Tesla will resume accepting BTC in the future. The only condition is to increase the environmental performance of the mining process.
So was Musk’s statement the catalyst for the next rally? It is difficult to answer this question. It is possible that the current increases are the result of a combination of several factors: both news from the market, but also definitely natural processes that are taking place on the market.
Current bitcoin rate and other cryptocurrencies, you can always check the tabs: bitcoin and the cryptocurrency rate at . 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 find out how you can efficiently create one: LINK.