Latest News

As the bulls have the upper hand, Bitcoin reaches $47,000

On the Bitstamp exchange, the price of Bitcoin (BTC) briefly spiked to $47,765 at 00:34 a.m. UTC, the highest level since January 3.

After the dramatic price increase, the cryptocurrency briefly turned positive for the year. It’s worth noting, though, that it’s still 32.11 percent short of reclaiming its all-time high of $69,044.

At the time of writing, Bitcoin was trading slightly around $47,000 on key spot exchanges, battling to maintain its climb.

Image by

Due to risk-off sentiment generated by the Federal Reserve’s aggressive U-turn, the leading cryptocurrency performed poorly at the start of the year. This month, Bitcoin raised the benchmark interest rate for the first time since 2018.

Over the last two weeks, the world’s largest cryptocurrency has gained nearly 26%, putting bulls back in control. However, whether or not this rise will last remains to be seen.

Some of the largest cryptocurrencies have benefited from Bitcoin’s growth, with Ethereum (ETH) up 5.27 percent in the last 24 hours.

Polkadot (DOT) is the best-performing altcoin in the CoinMarketCap top 10 right now, up more than 8%.

Related Posts – Ferrari joins the NFT universe through a collaboration with a Swiss…

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.