BTC rises 8% and returns to the levels of 41 thousand dollars and LUNA leads the rally
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Answer BTC rises 8% and returns to the levels of 41 thousand dollars and LUNA leads the rally
The cryptocurrency market witnessed a strong recovery in the last 24 hours as it rose by 6.55%.
In a surprising move, Bitcoin rebounded by 8% and moved to the $41,600 levels.
The recent bounce in the bitcoin price has become frequent in recent weeks as the bitcoin price has seen many strong fluctuations.
The crypto market already appears to be giving a hint and a readiness for the next executive order from the Biden administration.
Bitcoin and the entire cryptocurrency market can play a very important role given the current geopolitical situation arising from the ongoing Russian-Ukrainian war crisis.
Read:Wealthfront, which manages more than $21 billion, offers cryptocurrency to its clients
Lately, commodity prices have been on the rise with gold taking center stage.
On the other hand, risky assets like bitcoin and stocks have seen a bearish side.
According to Santiment, discussions of cryptocurrency continue to increase in the recent period.
stated Piyush Gupta, CEO of DBS Holdings Group Ltd today, Wednesday:
Private cryptocurrencies like Bitcoin will continue to emerge as a store of value.
Regulators and politicians will be loath to relinquish control of monetary policy and economic management tools, and therefore will be very cautious about allowing private money to grow.
Having said that, I believe that private money (cryptocurrencies) will continue to grow as a meaningful store of value, just like gold today.
“LUNA” coin leads the upward path:
The bounce in the altcoin space has moved with a very similar movement to the Bitcoin price movement.
The price of Ethereum is up almost 8% and is currently trading at $2,736 levels with a total market capitalization of $328 billion.
Read:Project Polygon launches a bridge for web users 3 that allows assets to be transferred to Ethereum
LUNA leads the crypto market rally with a solid 22% gain.
As of the time this article was published, LUNA is trading at $97.
Besides, LUNA has also shown strong resilience during the recent market turmoil, giving solid returns to its investors.
Analysts expect the price of LUNA to cross $100 and possibly touch a new all-time high.
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