Bitcoin is back above $20,000, followed by other cryptocurrencies: is the worst already over?
The world’s leading cryptocurrency, Bitcoin, appears to have weathered the crisis caused by the FTX crash and contagion concerns.
The most important cryptocurrency in the world, Bitcoin, seems to have overcome the crisis caused by the collapse of FTX and by concerns of a contagion capable of extending to all players in the sector. After two months of uncertainty, the price of Bitcoin is back above the psychological threshold of $20,000.
Until the beginning of January, the trend had been the same as in the previous weeks: low activity and a value always below $17,000. However, a slow growth up to $17,500 has led to the current and sudden surge: Bitcoin has been trading above $20,000 for a few days now, a level not seen since last November, after the sensational and unexpected collapse of FTX.
As practically always happens, the other major cryptocurrencies seem to closely follow the trend of Bitcoin. Thus Ethereum has gone from a value well below $1,200 to its current value above $1,500 and close to $1,600.
Solana , a popular alternative to Ethereum in vogue in the community of traders and NFT enthusiasts, has made an even bolder leap, going from a value of around €10 to the current €21.46.
If until last week the main analysts indicated a climate of deep distrust and fear among investors, now the market sentiment is indicated in a more reassuring “neutral”. In short, we are far from the enthusiasm that preceded the bursting of the bubble that occurred last year, but at the same time we are beginning to see a cautious optimism among industry insiders and retail investors. However, analysts invite you to maintain an attitude of vigilant caution: it is not at all obvious that this trend reversal is here to stay.