Bitcoin price returned to a 5-month high, hitting $24,000 yesterday (February 2) before losing this milestone.
According to CNBC, the price increase comes just a day after the US Federal Reserve (FED) raised the prime interest rate to 0.25 percentage points, the highest level since October 2007. A report from Coin Metrics says Bitcoin traded as high as $24,249.70 yesterday, the highest level since Aug. 17, 2022.
According to a cryptocurrency market analyst at the Bitbank exchange, signals from F ED This is an indicator that the Bitcoin price has increased slightly, but the upward momentum is still precarious.
Bitcoin’s value has increased by more than 40% since the start of the year, quickly making up for losses from 2022. However, many investors warn that despite the current uptrend, the cryptocurrency is not yet ready. ready for a fresh rally, it might even fall back at least one more time.
Theo Fortune, Professor John Griffin at the School Terrible McCombs of the University of Texas (USA) thinks that something suspicious is going on. In 2017, he and a colleague noticed that there was a single Bitcoin investor driving the price of the token and driving transactions. He and his colleagues published a 118-page report presenting evidence of one party manipulating the Bitcoin market in 2018.
FTX Sam Bankman-Fried and financial history, but the price of crypto exchange filing for bankruptcy mark one of the biggest crashes in crypto the world’s largest cryptocurrency with the smallest change ever.