Friday, March 24, 2023

These are the reasons for the Bitcoin recovery

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Bitcoin over 20,000 francs

These are the reasons for the recovery of the cryptocurrency

Bitcoin has appreciated significantly in value since the beginning of the year. Over the weekend, it surpassed $20,000 for the first time in a long time. According to experts, the reason for this is more confidence in the markets, triggered by falling inflation in the USA.

Published: 16 minutes ago


Updated: 14 minutes ago


Bitcoin topped $20,000 this weekend for the first time since August.

The last year was overshadowed by crises – especially in cryptocurrencies. While Bitcoin was still worth almost $70,000 towards the end of 2021, the value fell below the $20,000 mark in 2022. The bankruptcy of the formerly largest crypto exchange FTX and the turnaround in interest rates due to rising inflation also put a lot of pressure on the price. Critics even spoke of the end of the crypto boom.

But in the last few days, bitcoin has recovered slightly. For the first time since August last year, the well-known cryptocurrency has exceeded the $20,000 mark.

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