Mobility in cryptocurrencies has begun to accelerate. The rise in the leading cryptocurrency Bitcoin approached 4 percent. Other cryptocurrencies followed Bitcoin with an increase.
Cryptocurrencies started a moderate upward movement after a long stagnation. The upward movement that started with Bitcoin spread to other cryptocurrencies. Bitcoin hit $31,500 after a long time.
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BlackRock and Fidelity’s desire to create a crypto investment fund also had a positive impact on prices. BlackRock CEO Larry Fink called Bitcoin an “international asset” and said they want to make investing in the cryptocurrency cheaper and easier. According to Fink, Bitcoin could become an alternative and international asset, like “digitizing gold”.
2% rise in Bitcoin
Bitcoin prices have started to rise in light of recent positive developments. Bitcoin finds buyers at $ 31,100 with a premium of around 2 percent. During the day, the lowest level was 30 thousand 200 dollars and the highest level was 31 thousand 500 dollars.
Ethereum is also trying to strengthen
Ethereum, which has a lower rise compared to Bitcoin, is currently trading at $1929, up 1 percent. Ethereum saw a low of $1894 and a high of $1958 during the day.
90% increase in the last 6 months
2023 ATH came from Bitcoin. The cryptocurrency market continues to diverge positively. Bitay Research Department Analyst Alper Samet Yorak evaluated the latest developments.
Yorak’s assessment is as follows: Bitcoin, which has achieved a strong rising series since the first day of 2023 after a difficult 2022, creating an upward trend of 20% in 1 month and 90% in 6 months in just 1 month, exceeded $ 31,000 in June and reached the highest figure of 2023. He had tested it. The leading cryptocurrency, which later consolidated in the $ 30,000 region and maintained its strong stance, achieved a new ATH for 2023, reaching $ 31,500 at noon today, despite unsupportive external conditions and signals. Thus, the daily value gain reached 3.5%.
Bad days are over
Although they were initially rejected, the application of the world’s largest fund management companies, BlackRock and Fidelity, to create a crypto investment fund increases and triggers positive expectations in the sector.
If we look at a broader perspective, leaving behind the uncertainties caused by the FTX crisis, positive expectations in Ripple’s case with the SEC, the increase in Bitcoin ETF applications, the SEC’s frequent messages about Bitcoin regulation, FED Chairman Powell’s comments on cryptocurrencies and stablecoins in the Senate. The positive rhetoric about this issue and the relative elimination of severe recession expectations in the USA increased the confidence in the cryptocurrency market in the medium-long term.
Thus, Bitcoin, which has caused its investors to obtain a return of around 91% since the beginning of the year, has differentiated itself positively from its competitors such as stock, commodity and bond markets. Thus, the cryptocurrency market, which has left the worst period behind and achieved similar increases to the old days, leaves the door open for new ATHs in the coming days, with the reference it receives from the past.
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