Bitcoin Passes $20,000 Mark for First Time in 2 Months #Bitcoin #Passes #Mark #Time #Months


 

Bitcoin moved past the $20,000 mark for very first time in about two months on Saturday in the most recent signal of a steady restoration for the top crypto coin.

The cryptocurrency rose 4.6% to $20,853 at 01:01 GMT on Saturday, including $922 to its previous shut.

Bitcoin is now up 26.4% from the year’s low of $16,496 on January 1.

Ether, the coin linked to the ethereum blockchain network, rose 5.91 % to $1,536.9 on Saturday, adding $85.90 to its previous close. 

 

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Cryptocurrencies are nonetheless licking their wounds after the carnage of 2022. The overall world wide crypto marketplace cap has risen 5% to $871 billion considering that January 1 but it’s nevertheless down about 57% from this time last year.

Cryptocurrency spot trading volumes keep on being in the same way muted soon after slumping about 48% in December as opposed to the former thirty day period to $544 billion, their most affordable level given that December 2019, CryptoCompare data confirmed.

When decrease investing volumes are prevalent all-around the transform of the yr, the crypto market apathy has been exacerbated by a “general exodus” of lively retail investors, in accordance to Arcane Study.

Meanwhile, Hong Kong is pushing on with programs to attract up a shortlist of cryptocurrencies it will allow for vendors to trade in on its exchanges.

The territory’s securities watchdog will propose a subset of acceptable tokens, its chief govt said on Wednesday, as it looks to make the town far more friendly to crypto startups.

Hong Kong’s move to enable retail investing in cryptocurrencies has appear after months of turmoil in the sector, with the collapse of crypto exchange FTX the newest blow.

 

  • Reuters with supplemental editing by Sean O’Meara

 

Examine much more:

Hong Kong Drawing Up Crypto Token Investing Shortlist

Crypto Trade Kraken to Cease Working in Japan

Bankman-Fried in US as FTX Associates Plead Guilty to Fraud

 

 

Sean O’Meara

Sean O’Meara is an Editor at Asia Financial. He has been a newspaper guy for additional than 30 a long time, operating at nearby, regional and countrywide titles in the Uk as a writer, sub-editor, web site designer and print editor. A soccer, cricket and rugby fan, he has a distinct curiosity in sports activities finance.

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