Bitcoin rose to $20 thousand. The cryptocurrency rally continues
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The rise in the value of bitcoin in 2023 continues, and now the price of the first cryptocurrency exceeds $20,000 for the first time since the collapse of FTX in early November. This is reported by CoinDesk.
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The largest cryptocurrency by market capitalization started the week around the $17,000 mark after hovering around $16,000 since mid-December.
At the time of writing, the value of bitcoin is $20,358. Over the course of the day, the digital currency grew by 7.15%. At the same time, since the beginning of 2023, the growth of bitcoin was more than 20%.
“Nevertheless, the cryptocurrency, which surpassed $65,000 in November 2021, remains at the lower end of a severe bear market,” the report said.
“Indeed, $20,000 was once considered an alarming minimum, but now it potentially represents a sign of a revival,” said Craig Erlam, senior market analyst at Oanda, a foreign exchange company.
Growth of other cryptocurrencies
Ether is also growing well, the asset has grown by more than 20% since the beginning of the year and for the first time since the beginning of November it is more than $1,500.
The CoinDesk Market Index (CMI) rose 14% for the week.
Crypto stocks also benefited from this week’s rally:
- the Coinbase (COIN) exchange rose by 39%,
- Bitcoin miner Marathon Digital Holdings (MARA) is up 76%.
Author: 
Roman Myronchuk
Source: Ministry of Finance
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