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Stable above $20,000: Bitcoin recovers from year


Just three weeks ago, a bitcoin cost less than $16,000. Now the cryptocurrency is on the rise again. Experts warn private investors but against gold rush mood.

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Bitcoin (icon image): Over the weekend rose to over 21,000 dollars



The mood on the crypto market improved significantly at the beginning of the year.

Bitcoin, the oldest and best-known digital currency, is trading above the $20,000 mark again.

Other crypto values ​​such as Ether or Tether have recently recovered somewhat from their sometimes considerable price losses in 2022.

The market value of all almost 22,300 digital systems is now almost one trillion dollars again.

After bouncing back last week, bitcoin surged to more than $21,000 over the weekend.

On the night of Monday, a peak of $21,433 was marked on the Bitfinex trading platform.

This is the highest level since the end of October.

Most recently, a bitcoin cost $20,800.

Ether, the second-largest digital currency by market value, has to be paid again for more than $1,500 – more than it has been since the beginning of November.

The courses of many cryptocurrencies had collapsed in the past year.

Bitcoin plummeted from just over $46,000 to under $16,000.

Expert warns private investors

An important reason was the turnaround in interest rates by many central banks, which drove investors out of risky investments such as digital currencies.

A second reason was the crash of major crypto exchange FTX, which dealt a severe blow to the entire industry.

Distrust of crypto companies rose rapidly.

The situation has eased somewhat since the beginning of the year.


It is the hope of a slowdown in the pace of the US Federal Reserve's interest rate hike cycle that has obviously awakened risk appetite," commented crypto expert Timo Emden - and at the same time warned:


The current price rally is impressive and scary at the same time.

Private investors in particular could now come up with the idea of ​​chasing the rising prices.«

Crypto assets like Bitcoin are considered extremely volatile.

Regulators regularly warn against getting involved, especially by small investors.


Source: spiegel

All business articles on 2023-01-16

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