Thursday, March 28

Bitcoin soars 10% after sharp drop


Bitcoin surprised with its market volatility and operates up 10% this Tuesday (25), after several marked drops in recent days. In recent weeks, Bitcoin has been marked by the fall and is still operating at a low at the beginning of the year.

In relation to the Dollar, for example, the low in 2022 is 21%, even with the currency quoted at US$ 36,300.00 today.

In relation to the Real, the devaluation of Bitcoin remains at 22%, with the Dollar having also lost a little value against the Brazilian currency.

Bitcoin price up about 10% on Monday 01/25/2022 /Coingecko

In any case, it is still unclear whether there is a reversal of the fall, or just a correction of the movement.

Bitcoin trades up 10%

The high this Tuesday ended up drawing the attention of the cryptocurrency market, which was infected with the strong movement. Bitcoin operates up 10% after a drop that took its price to $ 32,900.00 last Monday (24).

This rebound movement eventually led Bitcoin to close on the daily higher for two consecutive days. However, the US stock exchanges have also shown optimism this beginning of the week, which may have influenced investments in variable income.

The Nasdaq index, for example, closed last Monday up 0.63%, while the S&P 500 recorded a rise of 0.28%. Gold also followed an increase of 0.55%, showing that it was also one of the acquisitions of the financial market.

Major US stock indices
Top US Stock Market Indices / Credit: Nasdaq

As some companies in the Bitcoin sector are already listed on exchanges, in addition to ETFs and other instruments, the digital currency may be trading on the market under the influence of these assets, despite having its investors with a different profile and much greater volatility.

Last Monday, Bitcoin’s 1-day variation amplitude was above 12%, compared to the low and high of the day. In any case, Bitcoin’s short-term rally is still unclear as a sustainable move, as the medium-term decline remains present.





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