HomeCRYPTOCURRENCIESBitcoin recovers, reaches $31,000 dollars • ENTER.CO

Bitcoin recovers, reaches $31,000 dollars • ENTER.CO

For at least a month, the value of digital currencies such as Bitcoin and Ethereum have been falling; For example, in mid-May, Bitcoin fell 6% compared to the previous month, leaving a value of less than $30,000 dollars. To get an idea, in November 2021 this coin reached $69,000 dollars.

Due to this, cryptocurrency investors have been concerned, some have withdrawn their investments and others have made the decision not to invest in these currencies anymore. However, today we are seeing a recovery that, although it does not reach the value of last year, leaves users with more peace of mind. Bitcoin today gained 5.4% and hovers around $31,600 US dollars. For its part, the Ether has advanced a little more gaining 5.6%, with which it was positioned with 1857.73 US $.

“The fundamentals and technical aspects of bitcoin have improved in recent days. While it may still be premature, some of the more optimistic traders are already calling for a floor in this prolonged pullback,” Mati Greenspan, founder of Quantum Economics, told Bloomberg on Monday.

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This phenomenon seems to have to do with the fact that world inflation is declining, so there is a chance that the Federal Reserve will relax market conditions, Greenspan explained. The truth is that, at least bitcoin has defied predictions of a further drop, reaching 30,000 US again.

After the collapse of the Terra/Luna ecosystem last month, stablecoins continue to face scrutiny from global regulators. Due to this, confidence in the market has been affected; For example, right now the UST algorithmic stablecoin is trading at $0.016 according to data from CoinGecko; that is, it sank further after losing its parity with the dollar.

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