Bitcoin Enflames and Surprises the World
Bitcoin surprises and amazes
Bitcoin (BTC) has seen a remarkable 10% surge in 24 hours, briefly surpassing the $57,000 mark for the first time since November 2021. This increase comes after a 2.2% gain over the weekend, despite a decrease in trading activity during those days.
Bitcoin typically tends to appreciate leading up to halving events, although the last cycle was influenced by post-COVID-19 government stimulus injections.
Ethereum could follow suit?
Ethereum (ETH) has also experienced a significant increase, hovering around $3,200 and breaking the $3,000 threshold for the first time since April 2022. Ether’s daily trading volumes have exceeded $5 billion for almost the entire month of February.
Current macroeconomic conditions could drive investors towards assets seen as havens, such as Bitcoin and gold. Waning confidence in the US economic strength, exacerbated by geopolitical trends, domestic policy, as well as tensions in the banking sector and job market, could bolster interest in non-sovereign currencies.
