Bitcoin up 14.81 percent over the past 5 days and above $23k, what could be next?
Table of Contents
Bitcoin is still struggling to get back , ever since it has lost more than 50% of its highest glory. In the past 5 days we have seen a rise of 14.81% taking bitcoin to 23 597.30 USD per coin.
Disclaimer: Any trading and investment is risky and you can lose all your capital . This article is not investment advice but just an opinion expressed but the author and it is provided for informational purposes only
The crypto space
Most crypto investment companies went bankrupt taking some of the bitcoin value with them over the past weeks. Bitcoin hit its lowest price around $1700 this year (2022) which left investors wondering about its future.
Now that bitcoin manages to go above $23 000 , it looks like the future is getting brighter . Those who bought one BTC at $17k now have made some profit of $6k , or 35% .
The recovery we saw on the cryptocurrency market last week gave some investors hope and it seems promising , now above $23,000 some investors want to take a profit at $25,000.
Ethereum rally
It seems like ethereum chooses an upward direction without looking back.
Some say the catalyst of the current rally was the date release of the upcoming Merge update, which immediately attracted a massive volume of investment into Ethereum and projects that will benefit from the upcoming fundamental upgrade.
However as of 8:44 am, 1000 ETH was worth $1,522,450.00. That’s -$264,060.00 less than the same amount of ETH 1 year ago.